Factbox: What happened at the G20, IMF meetings in Washington

Sun Sep 25, 2011 6:55pm EDT
 
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WASHINGTON (Reuters) - Finance chiefs from the Group of 20 nations and the 187-country International Monetary Fund met from Thursday to Sunday.

Following is a summary of the outcome of the meetings:

EURO ZONE CRISIS

Countries that share the euro said their 440 billion-euro ($384.5 billion) rescue fund could be bolstered to maximize its impact. A senior European Union official hinted it could be increased five-fold but others said it was too soon to be talking about numbers.

The head of the fund and top ECB officials said it would be inappropriate for the European Central Bank to participate in the leveraging. The United States and the IMF have urged the ECB to use its firepower to bolster the fund.

GREECE

The IMF said EU/IMF inspectors were likely to return this week to Athens to hammer out the conditions for the payment of an 8 billion-euro aid tranche needed to keep Greece from default, after Greek Finance Minister Evangelos Venizelos held talks with IMF Managing Director Christine Lagarde on Sunday.

A Greek official said the fund had insisted on a written document outlining measures recently announced by Athens to put its IMF lending program back on track.

FINANCIAL TRANSACTIONS TAX TO HELP DEVELOPMENT   Continued...