• Sweden edition
 
Sweden pledges $10bn to IMF bailout fund

Sweden pledges $10bn to IMF bailout fund

Published: 18 Apr 2012 09:19 GMT+02:00
Updated: 18 Apr 2012 09:19 GMT+02:00

Their support to the planned $400 billion fund-raising exercise "clearly demonstrates these countries' enduring commitment to multilateralism," Lagarde said in a statement.

"Ensuring that the Fund has sufficient resources to tackle crises and to promote global economic stability is in the interests of all our members," she said.

In a Frankfurt Allgemeine Zeitung interview published earlier Tuesday, Lagarde revealed that the International Monetary Fund is seeking some $400 billion for expanding its crisis intervention "firepower".

That was sharply lower than the original target of $500 billion. Last week Lagarde said the Fund was lowering its target, citing a slight easing of tensions in the global and eurozone financial system.

In the newest pledges, Denmark was promising about $7 billion, Norway $9.3 billion, and Sweden $10 billion.

Their contributions follow a $60 billion commitment from Japan and $200 billion from the euro area.

The IMF is hoping to firm up commitments, especially from the big emerging economies like China, Russia, Brazil and India, at the Fund's Spring meetings held at the end of this week in Washington.

But the Fund's largest shareholder, the United States, is not expected to contribute.

AFP/The Local

twitter.com/thelocalsweden

Don't miss...X
Left Right

Your comments about this article

10:35 April 18, 2012 by Abe L
Bad idea, we shouldn't be paying this much money to keep other country's economies alive while Sweden's own economy is barely growing. Those $10bn could have made a big difference in Sweden. It won't actual help the countries the money goes to, it just postpones the inevitable while at the same time wasting precious Swedish tax-money. Sweden would be better off preparing and protecting itself against the pre mentioned emerging economies.
12:58 April 18, 2012 by kristianj
Once again my hard earned money being spent without my consent. Amazing how those polititians love to write checks on my behalf.
13:50 April 18, 2012 by Mb 65
Why,Why,Why. They could have dropped the taxes to help the unemployed get back to work. I think this government is on it's way out now.
18:50 April 18, 2012 by mkdh
i think all this money will go to usa ,its clear that every time usa have short for money,,,makes europe pay the price for america, poor europe.
20:24 April 18, 2012 by Vill
This is why I strongly believe in the ownership of gold. Nations around the world have their money printers on high speed to bail out other nations who are incapable of successfully running something as simple as a lemonade stand. Eventually, the world's currencies will be worth just enough to use as clean up material after using the crapper.
23:48 April 18, 2012 by Larry Thrash
More parties in Monte Carlo and cocktail parties for all IMF officials. Nice. Does Christine Lagarde get a commission on this $10,000,000,000.00? Any kickbacks, bribes? I don't trust nations that through working people's money around like this. Very disturbing. This is $1,100.00 from every man, woman, and child in Sweden.
Today's headlines
Stockholm 'thief' turns out to be trainee ninja

Stockholm 'thief' turns out to be trainee ninja

Stockholm police rushed to the scene when a worried Swede reported that their neighbours were the victim of a break-in - but when officers arrived, they found nothing but a ninja in the middle of practice. READ  

Elections 2014
Liberals hint at bringing back conscription
Photo: Fredrik Sandberg/TT

Liberals hint at bringing back conscription

With Russia becoming "all the more aggressive", the Liberal Party leader and education minister, Jan Björklund, has suggested that Sweden may have to reintroduce conscription. READ  

Swede mauled in bear hunt gone wrong

Swede mauled in bear hunt gone wrong

Roles were reversed in a bear hunt on Thursday night, when a Swedish hunter was attacked by his prey, leaving the man in hospital in a serious condition. READ  

How immigration became a key election issue
Photo: Bertil Ericson/TT

How immigration became a key election issue

Prime Minister Fredrik Reinfeldt sparked a furore with recent comments that put rising refugee costs in focus before the elections. But why did he bring it up, and will it affect the outcome? READ  

 Saab carmaker fails in bid for receivership
Photo: Björn Larsson Rosvall/TT

Saab carmaker fails in bid for receivership

A Swedish court has rejected a request from the Chinese-owned automaker NEVS, which owns the financially-troubled Swedish brand Saab, to be placed in receivership until it could attract new financing. READ  

Sweden's highest peak to lose title next year
The view of Kebnekaise's southern peak, soon to be the second highest peak in the country. Photo: Stockholm University

Sweden's highest peak to lose title next year

Mount Kebnekaise's southern peak will no longer be the highest point in Sweden by 2015, researchers predicted on Thursday, adding that the change will spell a major blow for tourism in the region. READ  

Gothenburg preschools end school photography
Moments like these are a thing of the past for Gothenburg preschoolers. Photo: Jonas Ekströmer/TT

Gothenburg preschools end school photography

Preschool managers in Gothenburg have decided to ban class photos at preschools in their municipality, citing the different financial situations of families as one reason for the change. READ  

Presented by Stockholm Business Region
Introducing… Insurance in Stockholm
This is Stockholm. Don’t worry - be happy. File photo: ASIFE/iStockphoto

Introducing… Insurance in Stockholm

Many consider Sweden a pretty safe place to live, but what if an icicle pierces your little toe or a ray of midnight sun sets fire to your kettle? Don’t worry, we’ve got you covered when it comes to sorting out insurance in Sweden. READ  

Brit's life in Sweden becomes BBC radio show
The cast of The Cold Swedish Winter.

Brit's life in Sweden becomes BBC radio show

The Local chats to UK funnyman Danny Robins about his new radio show The Cold Swedish Winter, which is making waves on BBC radio. He talks elk, moose, and what it means to be a Swedophile. READ  

Allergic Swedes demand separate metro carriages
Peanut photo Shutterstock

Allergic Swedes demand separate metro carriages

A Swedish allergies association has asked Stockholm public transport officials to set aside certain carriages on the metro for those with allergies - banning nuts, animals, and strong fragrances in transit. READ  

RECEIVE OUR NEWSLETTER AND ALERTS
Gallery
People-watching August 27
Gallery
Top ten false friends in Swedish
National
Roma advocate scoops Wallenberg prize
Society
Meet the man who made a Swedish store recall its high heels for kids
Business & Money
'How I came to run my own business in Sweden'
Blog updates

25 August

Hit och dit, här och där (The Swedish Teacher) »

" Hej igen! A common challenge for Swedish language students are the location adverbs hit/här, dit/där, hem/hemma etc. Some of the location adverbs come in two versions. We should use one type of location adverb when we use a verb describes where we are, and we should use the other type of location adverb when we the verb..." READ »

 

25 August

The Dollar Store (Blogweiser) »

"A dollar store in Sweden. Blog post: http://t.co/tNuuvcP1q0 #USD #greenbacks #sweden #sverige pic.twitter.com/RHFAYf7U1k — Joel Sherwood (@joeldsherwood) August 23, 2014 There’s a chain here in Sweden called The DollarStore. This name always stood out to me in a country where they don’t use dollars. I went there for the first time this weekend. They actually accepted greenbacks..." READ »

 
 
 
Politics
Expert explains why Sweden's election oozes uncertainty
National
City plays Schindler's List theme at Nazi rally
Society
For Stockholm Fashion Week, here's the A-Z of Swedish fashion
National
'Amnesiac' man avoids deportation for ten years
Gallery
Princess Estelle through the years
Business & Money
Swedish city all set for six-hour workday trial
Business & Money
Five golden rules for the Swedish job hunt
Sponsored Article
Graduates: Insure your income in Sweden with AEA
Gallery
People-watching August 22-24
National
Armed royal guards caught (very) drunk on the job
National
Sweden orders textbook on Roma discrimination
Gallery
Violent anti-Nazi demonstrations in Malmö
Society
A closer look at Sweden's five official minority languages
Gallery
See the destruction from the southern Sweden floods
Politics
'Sweden Democrats hold the key to elections'
Society
Swedes celebrate first day of smelly fish season
Politics
Sweden elections: How do they work?
Finest.se
Gallery
People-watching August 20th
Society
Did you know the Bronx in NYC was named after a Swede?
Sponsored Article
Find out what gives this Swedish school executive appeal
Sponsored Article
Introducing...Your finances in Stockholm
Sponsored Article
Introducing...Housing in Stockholm
Latest news from The Local in Austria

More news from Austria at thelocal.at

Latest news from The Local in Switzerland

More news from Switzerland at thelocal.ch

Latest news from The Local in Germany

More news from Germany at thelocal.de

Latest news from The Local in Denmark

More news from Denmark at thelocal.dk

Latest news from The Local in Spain

More news from Spain at thelocal.es

Latest news from The Local in France

More news from France at thelocal.fr

Latest news from The Local in Italy

More news from Italy at thelocal.it

Latest news from The Local in Norway

More news from Norway at thelocal.no

746
jobs available
Swedish Down Town Consulting & Productions
Swedish Down Town Consulting & Productions is an innovative business company which provides valuable assistance with the Swedish Authorities, Swedish language practice and general communications. Call 073-100 47 81 or visit:
www.swedishdowntown.com
PSD Media
PSD Media is marketing company that offers innovative solutions for online retailers. We provide modern solutions that help increase traffic and raise conversion. Visit our site at:
http://psdmedia.se