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China confirms $43bn for IMF crisis war chest

China will contribute $43 billion to the International Monetary Fund's crisis-fighting reserves, state news agency Xinhua confirmed on Tuesday, without providing details.

The leaders of Brazil, Russia, India, China and South Africa, meeting before a Group of 20 summit in Mexico, said they “agreed to enhance their own contributions to the IMF”.

They sought to tie the funds to long-delayed reforms that would give the developing world more say at the Washington-based Fund. - Reuters

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