The IMF is seeking a bail-out fund of $500 billion from central banks. This would be a $300 billion addition to the $200 billion that eurozone countries pledged last month. The US stated that it would not participate in this fund increase. The money will have to come from emerging market central banks.
This fund is supposed to be used mainly for the Eurozone itself. The need for emerging markets to participate is an interesting twist to the bail-out process; however, the focus is clearly on having more liquidity resources. How can the IMF be a player if it does not have the resources to provide money?
Add more money to the gobal financial markets. Who does not want to be at this money punch bowl.
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