6 Apr 2012

NZ to consider IMF request for more funds

9:55 pm on 6 April 2012

The Government says New Zealand is willing to consider new requests from the International Monetary Fund for more money to bail out debt-ridden European countries.

New Zealand has already paid over close to $100 million to the IMF for bailouts of Portugal and Greece and could be called on for more.

In recent days the head of the IMF, Christine Lagarde, has called on the 187-member countries to contribute $US500 billion of new money to the fund.

The money would be used for possible future bailouts.

Finance Minister Bill English says large European countries such as Italy and Spain remain shaky and if more is needed to help avoid an economic meltdown, New Zealand will consider pitching in.

Mr English says avoiding a meltdown in Europe is beneficial for the world economy and New Zealand.