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Summary Japanese minister says IMF is likely to receive $400 billion to boost a global firewall.
I think it is becoming highly possible that we will achieve a sum near the targeted $400 billion, Jun Azumi, Japanese Finance Minister, told reporters in Washington.He said he hopes that it will give relief and stability to the global economy too.Azumi was speaking after the first day of a two-day meeting of finance ministers and central bank chiefs of the worlds 20 largest economies.With worries mounting that Spain might require the eurozones fourth bailout, IMF head Christine Lagarde said Thursday she was confident the global crisis lender would get a significant boost to its intervention capacity.As part of the outcome of this meeting, we expect our firepower to be significantly increased, Lagarde told reporters.She did not give a figure for her global firewall, but warned that dark clouds still hover and that more turmoil in Europe could affect the entire global economy.
