CLEAN: G20: Bigger euro firewall needed before more IMF funds

The G20 recently met in France to address ongoing economic challenges. The group emphasized the importance of ensuring the IMF has adequate resources to manage risks, particularly those stemming from Europe. There was consensus that the IMF cannot replace a robust European firewall and needs clarity on Europe's plans. A proposal was made to increase the IMF's lending capacity by $500 billion, contingent on a credible European firewall. The meeting reaffirmed the importance of these processes, and no G20 country opposed the approach. Despite economic headwinds, the discussions were encouraging.

Where did the G20 last meet to discuss economic challenges?

• Italy

• Spain

• Germany

• France

What is the G20's stance on the IMF's role in European financial stability?

• The IMF should focus on non-European countries

• The IMF cannot substitute for a stronger European firewall

• The IMF should act independently of Europe

• The IMF should replace the European firewall

What amount did the G20 suggest for increasing the IMF's lending capacity?

• $600 billion

• $500 billion

• $400 billion

• $300 billion

What is required alongside the increased IMF lending capacity according to the G20?

• A new European currency

• A credible European firewall

• A reduction in European trade

• An increase in European taxes

How did the G20 countries react to the reaffirmation of the process's importance?

• They opposed it

• They were indifferent

• They reaffirmed its importance

• They suggested alternatives