Canada indicates could pay into IMF Europe fund

Thu Dec 22, 2011 5:10pm EST
 
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OTTAWA (Reuters) - In a sign that Canada's resistance to paying into an IMF bailout fund for Europe might be fading, Finance Minister Jim Flaherty said on Thursday the idea would be generally supported if all the Group of 20 nations agreed to pay in more.

Until now, Canada has rejected the idea of contributing to such a fund, saying Europe has enough resources to deal with its debt crisis and stressing the IMF's first responsibility is to poorer nations.

"If at the end of the day all the other G20 countries were going to provide more resources to the IMF and let the IMF deal with part of the situation in Europe, then I think there would be support for that overall because of the fear, quite frankly, around the world of a global economic crisis," he told the Canadian Broadcasting Corp.

No one in Flaherty's office responded to requests for further comment.

(Reporting by David Ljunggren; editing by Rob Wilson)