IMF seeks more financial resources to boost troubled economies 

(MENAFN) The International Monetary Fund's managing director, Christine Lagarde, appealed the world's largest economies to provide the IMF with more financial resources to boost faltering countries, reported AP.

Lagarde added that euro countries have already promised to provide the IMF with USD200 billion, however, the organization would need to increase that amount to USD1 trillion.

She also said that at the current time, the IMF has nearly USD400 billion, which can be used as loans to nations in trouble.

It is worth noting that the organization's ability to rescue countries in Europe and elsewhere has a direct bearing on the US economy, according to Lagarde, who added that Europe's faltering economy would quickly spread, and endanger the US economic recovery.