Thailand joins other countries in boosting IMF fund

  "The IMF plays an essential role in supporting the stability of the global economy," the three countries said in a joint statement.
 
 "The ASEAN region has a strong interest and stake in stable global growth.  We support the broad-based international cooperative effort to increase the resources of the IMF for precautionary and crisis resolution purposes.  Indonesia, Malaysia and Thailand will undertake the necessary domestic consultations to join this international effort," they said.

 Member countries have pledged to increase IMF's resources by over $430 billion. (see the list below)
 
 
“We warmly welcome pledges by our members to increase IMF resources by over $430 billion, almost doubling our lending capacity. This signals the strong resolve of the international community to secure global financial stability and put the world economic recovery on a sounder footing. These resources are being made available for crisis prevention and resolution and to meet the potential financing needs of all IMF members. They will be drawn only if they are needed, and if drawn, will be refunded with interest," said IMF Managing Christine Lagarde.
 
Her thanks also go to China, Russia, Brazil, India, Indonesia, Malaysia, and Thailand and other countries all of whom have indicated that they will be among the contributors.
 
"This broad-based response to our request for additional resources will help strengthen global economic and financial stability in the interests of all our members. We made a call to action, and our members have delivered. By their bold actions, our members have once again shown their firm resolve to stand by the IMF and ensure it has the resources necessary to do its job. In turn we at the fund commit to safeguard our members’ interests and resources. I am very encouraged by this further demonstration of strong support for the fund, and I look forward to further commitments from our broader membership,” Lagarde added.
 
Pledges come from:
Country / Value
Euro Area /€150 billion (about US$200 billion)
Japan/ US$60 billion
Korea/US$15 billion
Saudi Arabia/US$15 billion
United Kingdom/(US$15 billion)
Sweden/at least US$10 billion
Switzerland/US$10 billion
Norway/SDR 6 billion (about US$9.3 billion)
Poland/€6.27 billion (about US$8 billion)
Australia/US$7 billion
Denmark’s Nationalbank/€5.3 billion (about US$7 billion)
Singapore/US$4 billion
Czech Republic/€1.5 billion (about US$2 billion)
Total: Over US$430 billion (including funds to come from China, Russia, Brazil, India, and other countries)