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G20 Finance Ministers Pledge To Ensure Banks Have Enough Capital

The finance ministers of the G20 group are looking for more firepower to help troubled member states.
Financial leaders of the world's 20 biggest economies have pledged to make sure that the International Monetary Fund (IMF) has all the resources it needs to help stabilize the global economy.

The finance ministers of the Group of 20 (G20) major economies, who met in Paris for a second day on October 15, released a statement saying "We committed [ourselves to ensuring] that the IMF must have adequate resources to fulfill its systemic responsibilities."

The G20 is also expected at a summit of eurozone leaders on October 23 to take further steps to strengthen the eurozone's bailout fund so it has greater firepower to aid troubled member states.

The meeting in Paris was held amid concern that Europe's debt crisis could spread further and create global economic turmoil.

compiled from agency reports