IMF to seek $250 billion boost in its lending resources at G20

The International Monetary Fund is seeking a boost in its lending resources to $1 trillion, from the current $750 billion, at a Group of 20 summit in Korea in November, according to a Korean government official. 

The increase would help strengthen a global financial safety net to counter crises, the official said on condition of anonymity because the talks are private. Korea is chair of the G-20 this year. IMF Managing Director Dominique Strauss-Kahn told the Financial Times that a boost to $1 trillion in IMF lending firepower was a “correct forecast.”