The UK may have to fork out £17.5bn to plug a funding shortfall at the International Monetary Fund (IMF) after the organisation warned yesterday it needed additional funds to tackle the eurozone crisis.
The IMF said it would need to ask member states, including the UK, for another $600bn (£390bn) to fulfil its mandate of stabilising the global economy. A spokesman said the Fund's resources needed to more than double from $400bn to $1trn to insulate the world against an intensification of the euro's woes. Britain is committed to paying around 4.5% of the total fund, meaning it may need to shell out an extra $27bn (£17.5bn). However, Prime Minister David Cameron (pictured) - along with his counterparts in the US - are said to be resisting the cash call from the IMF. According to ...
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