April 20, 2012 7:47 PM

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Major powers ready to pledge money to bolster IMF resources<br/>

Major emerging powers today stood ready to pledge money to bolster the International Monetary Fund&apos;s crisis-fighting war chest, though Brazil was holding out for promises that their voting power at the global lender would increase. Russia said that G20 advanced and emerging countries were ready at a meeting, today, to commit enough new funds to fulfill IMF chief Christine Lagarde&apos;s request for at least 400 billion dollars to draw a line under the euro-zone crisis. Support from Russia, China and Brazil is crucial to achieve the doubling of the IMF&apos;s war chest the global lender is seeking. Europe and Japan already have pledged 320 billion dollars. An international diplomat said that in all, emerging nations have lined up at least 100 billion dollars. The IMF has warned that the euro zone&apos;s debt crisis presents the gravest risk to the global economic expansion, and financial markets worry that Spain and Italy may next require bailouts, following Greece, Ireland and Portugal. Enlarging the IMF&apos;s coffers could offer solace to nervous investors that any widening of the crisis could be contained.

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