IMF to increase resources-allgemeine zeitung

The International Monetary Fund (IMF) may be hoping to increase its financial resources from $940 billion to at least $1.3 trillion , according to a report. German daily the Frankfurter Allgemeine Zeitung said two "models" are currently being examined to boost the IMF''s resources, without stating its source. It follows comments on its lending capacity by managing director Christine Lagarde in an action plan released on Saturday. "Our lending capacity of almost $US400 billion looks comfortable today but pales in comparison with the potential financing needs of vulnerable countries and crisis bystanders," Lagarde said. "It will be useful to discuss, soon, the needs and contingency options," she added. A November 2010 agreement doubled the permanent contributions, or quotas, of the IMF''s member states. But before the quota reform can take effect, a sufficient number of national parliaments must ratify it. About 40 of the 113 needed have done so.