IMF raises £200bn to fight euro crisis

The International Monetary Fund (IMF) has raised an additional $320bn (£199bn) in a bid to boost its firepower to deal with the eurozone debt crisis.

IMF managing director Christine Lagarde said she had received commitments of $34bn on Wednesday, including $8bn from Poland and "a substantial amount" from Switzerland, reports Reuters. Europe had already said it would provide about $200bn to the IMF and Japan pledged $60bn on Tuesday, becoming the first non-European nation to make a commitment. Sweden also said it would commit $10bn and increase the amount to $14.7bn later, while Denmark pledged to give $7bn and Norway about $9.3bn. "Ensuring that the Fund has sufficient resources to tackle crises and to promote global economic st...