"I salute them and their commitment to multilateralism. As a result, total pledges have risen to 456 billion US dollars, almost doubling our lending capacity.
Among Asian nations that have pledged support are Japan with 60 billion US dollars, China with 43, Korea 15, India 10, Singapore 4, Thailand, Malaysia and Philippines a billion dollar each.
Large pledges have come from Germany (54.7 billion US dollars), France (42.4), Italy (31¬), Spain (19.6), Netherlands (18), Saudi Arabia (15) and United Kingdom (15)."These resources are being made available for crisis prevention and resolution and to meet the potential financing needs of all IMF members," she said.
"They will be drawn only if they are needed as a second line of defense after resources already available from quota and the existing New Arrangements to Borrow are substantially used.
"If drawn, they will be repaid with interest. The IMF is committed to assuring our members’ interests and resources are safeguarded."