A $97 Billion Bailout Fund

Some IMF members want more, and Congress may balk

With several of the world's poorest nations on the brink of economic collapse, 22 finance ministers met in private sessions in Washington, D.C., last week to determine how much more money taxpayers in the US. and other countries will make available for a bailout fund. Late in the week, those ministers, convened as the Interim Committee of the Board of Governors of the 146-nation International Monetary Fund, made their decision known. Committee Chairman Sir Geoffrey Howe announced at IMF headquarters that the fund's lending authority to less-developed countries would be increased by about...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!