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G20 funding short by $88 billion

April's G20 meeting of G20 leaders proudly pledge an additional $500 billion to the International Monetary Fund (IMF) with the intention of allowing this money to be injected into struggling economies. However, as we enter September total funds received are in the region of $412 billion leaving an $88 billion shortfall in the IMF funding. So what has happened?

It is unclear exactly who has fallen short with their pledges with Japan and Europe having pledged $100 billion each (with the UK contributing $15 billion to the European payment). We've also seen China pledged $50 million as well as an array of smaller countries pledging significant funds. It looks as though this week's meeting will not end without additional funding being made available with the UK potentially in line to inject a further $11 billion into the pot.

This comes at a time when the UK government is literally struggling to cover its own bills back home and a further $11 billion injection will not go down well. Houses are being repossessed, businesses are struggling, mortgage liquidity is nowhere near that required and yet the UK government appears keen to inject more money into the IMF. So what exactly is going on and why are UK consumers and businesses not receiving their fair share?

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