Weidmann to Brief German Lawmakers on IMF, Sueddeutsche Says

Dec. 14 (Bloomberg) -- Bundesbank President Jens Weidmann will brief the German parliament’s Budget Committee today to explain why he’s seeking the house’s permission to raise payments to the International Monetary Fund, the Sueddeutsche Zeitung reported.

Weidmann, who announced his decision on IMF loans in a Dec. 11 newspaper interview, was summoned to parliament by the opposition Social Democrats, the newspaper said, citing SPD budget spokesman Carsten Schneider.

The Bundesbank, which is empowered to decide independently on German contributions to the IMF, is prepared to transfer 45 billion euros ($58.6 billion) to the fund, the newspaper said.

To contact the reporter on this story: Brian Parkin in Berlin at bparkin@bloomberg.net

To contact the editor responsible for this story: James Hertling at jhertling@bloomberg.net