IMF can raise additional capital quickly for crises - Treasury SecretaryApril 18, 2012 - 18:34 AMT PanARMENIAN.Net - Treasury Secretary Timothy Geithner said on Wednesday, April 18 the International Monetary Fund was in a position to raise a substantial amount of capital quickly but that it should not substitute for a forceful response by Europe to its debt crisis, Reuters reported. "The IMF is in a very good position ... to demonstrate to the world that ... it has the ability to raise additional finance from other countries very, very quickly if it needs to do that," Geithner said at the Brookings Institution. "I think that's good because that will prove to the world that there's a substantial capacity that can reinforce what Europeans are doing and help cushion, if necessary, the effects of any European trauma on the rest of the world." "What we did not want to see is people look to the IMF as a way to substitute for a more forceful European response," he said. Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads. Partner news | Armenia, Russia discuss life extension of Metsamor nuclear plant Issues regarding the extension of life of the 2nd power unit of the Armenian Nuclear Power Plant were discussed in Yerevan. Armenians stage more campaigns against territorial concessions to Azerbaijan Protesters blocked more roads across Armenia on Friday, April 26 in continuing attempts to scuttle territorial concessions to Azerbaijan. Czech-Armenian military cooperation discussed in Yerevan A delegation led by the Director General for the Industrial Cooperation Division of the Ministry of Defence of the Czech Republic visited Armenia. U.S. welcomes efforts to define Armenia-Azerbaijan border The United States welcomes efforts to define the border between Armenia and Azerbaijan, says Vedant Patel. |