Kalousek: Czech Republic could increase IMF contribution

The Czech Republic could increase its contribution to the International Monetary Fund (IMF) under certain conditions, Czech Finance Minister Miroslav Kalousek told journalists in Brussels after a meeting of EU finance ministers on Tuesday. The possibility of raising contributions paid by EU member states to the IMF is being discussed in connection with the current crisis in the eurozone. Mr Kalousek said he could imagine the Czech Republic raising its contribution but only provided it was not direct payment. The only possibility, he said, was using foreign currency reserves of the Czech National Bank, something the bank would have to sanction. Mr Kalousek cited the situation last year when the Czech National Bank provided a loan of about 25.1 billion crowns to the IMF in light of the economic crisis. The amount was a part of a broader package on which G20 countries agreed in April 2009.

Author: Jan Velinger