IMF Denies Report On $600 Billion Lending Facility

The International Monetary Fund on Wednesday denied a report in Japan's Nikkei newspaper that the Group of 20 nations were planning to assemble a $600 billion IMF lending facility that could be used to bolster euro zone countries.

"There has been no such discussion with the IMF," an IMF spokesman said in response to the Nikkei report.

Separately, a G20 official also said the report was untrue.

(Reporting by Leslie Wroughton in Washington and David Lawder in Milan, Editing by Chizu Nomiyama)

Copyright 2011 Thomson Reuters. Click for Restrictions.

Comments

[cadawa]

05:15 PM on 12/08/2011

Busted.

[Jerry Lammers]

07:45 PM on 12/07/2011

The only fix for the European Debt Crisis is for the European Central Bank to monetize the majority of the debts of the economically weak European nations. If Germany can't be made to see this, the other members of the European Union (E. U.) need to kick Germany out and impose 100% tariffs on the import of German goods. Then, the remaining E. U. states can set to work resolving the CRISIS with Germany on the outside looking in.

[LunaPark]

09:45 PM on 12/07/2011

Yea, that's it. Blame the financially responsible country.

[cadawa]

05:20 PM on 12/08/2011

The only fix is elbow aside the fantasical ECB and drop the Euro. Nations need to reclaim their sovereign right to create their own currency rather let the private bankers put them into debt slavery by charging them to do what they can do themsleves and never creating enough to service the debt.

[highplainsbubba]

04:57 PM on 12/07/2011

Nothing like a country that can't afford its own debt (US), loaning money to other countries that can't afford their debt.

[Nate35]

05:41 PM on 12/07/2011

The U.S. is in quite good shape concerning its debt. It's our politics that needs the fixing. The debts a relatively minor issue after that. Also, if you think the debt's difficult to service now, just wait until the Euro fails.

[hrpmap]

05:48 PM on 12/07/2011

Our debt is at present over 15T and growing, we borrow 40% of what we spend and that doesn't count the other debts we hold. Good Shape? I don't think so.

[Leader Newworldparty]

04:50 PM on 12/07/2011

Europe's 'Stealing from Children' goes into Overdrive

Read:

http://www.newworldparty.org/2011/10/europes-stealing-from-children-goes.html

[Duffminster]

04:48 PM on 12/07/2011

I noticed that the stock market moved up rapidly off its lows on this news/rumor. I find it curious given that a recent report indicated that the IMF may need $120 billion just to support its current pre-G20 bailout fund. So my question is "where will they be getting this money?"

My guess is that the Fed will print it.

[hrpmap]

05:49 PM on 12/07/2011

My guess is that you are right.