Nations from China to Brazil are considering increasing the International Monetary Fund’s lending resources to help stem the European debt crisis, Group of 20 and IMF officials said.
Policy makers are discussing an expansion of the IMF’s firepower as part of a global G-20 agreement next month in Cannes, France, according to three officials, who declined to be named because the discussions are not public. Talks are in preliminary stages as potential contributors wait to see what measures Europeans take to end the debt turmoil at an Oct. 23 summit, they said.
All times CET (ET+6)
WHAT TO WATCH:
*G-20 finance ministers and central bankers meet in Paris
*Fitch places Rabobank, 4 other major European commercial banks on watch negative; expects any downgrade of long-term IDRs and VRs would be by one notch; ratings could also be affirmed at current level
*Dutch court rules in Samsung vs Apple interim injunction proceedings
*Dockwise (DOCKW NA) files waiver request on a single covenant with lenders
*ING (INGA NA) rated new ‘equalweight’ at Barclays; sold long-term U.S. dollar-denominated bonds at a premium amid ‘window’ this week, head of long term funding says
*Amsterdam Exchanges Index declined 0.9 percent to 297.39
*Stoxx Europe 600 Index lost 1.1 percent to 236.53
*Euro falls 0.1 percent to $1.3764
*Dutch 10-year bond yield little changed at 2.515 percent