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Alistair Darling begs G20 for extra IMF funding

In what appears to becoming a series of begging letters it has been revealed that Alistair Darling has asked his fellow G20 members to commit to additional funding for the International Monetary Fund (IMF). While this will come as no surprise to those close to the situation the figures in question are around $250 billion in addition to the $250 billion which the IMF currently receives. So where exactly will the money go?

The problem for many people in UK is the fact that the vast majority of money available will go to developing and emerging economies such as India, Indonesia, Turkey and South Africa which are struggling under the weight of the current economic slowdown. However, when you also consider a country such as the UK could see national debt rise to £2 trillion and each taxpayer in the UK is around £40,000 per person worse off over the last 12 months, surely some of the funding should be aimed at leading European economies?

All this talk of funding overseas economies, often at the expense of countries such as the UK, will do nothing to enhance the reputation of the European authorities with a general consensus being that they are taking over. The UK authorities will need to be careful if they are to retain the trust of UK voters ahead of the general election in 2010.

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