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UK pledges extra £10bn to IMF

The Chancellor George Osborne has pledged a further £10 billion to the International Monetary Fund's bailout package.

It won't require approval from MPs as he has only committed around £30 billion of the £40 billion loan approved by Parliament.

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'IMF loan is essential'

This is not just sensible, it is essential. The IMF is the only fire-brigade available to the global economy. It is vital that the IMF has the necessary tools to deal with the current eurozone crisis and the risks to wider global financial stability.

– Andrew Tyrie MP, Chairman of the Treasury Select Committee

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