23 Apr 2012

Government silent on potential commitments to IMF bailout fund

5:01 pm on 23 April 2012

Government officials are unable to confirm whether New Zealand has received formal requests to contribute to a massive bailout fund.

The International Monetary Fund received commitments over the weekend for $NZ430 billion to help stave off a new financial crisis.

Treasury Secretary Gabriel Makhlouf attended the meetings for the Government in Washington, DC.

Before Mr Makhlouf left, a spokesperson for the Treasury said New Zealand would consider requests for new funds in light of commitments by other non-G20 countries.

The spokesperson was unable to confirm on Monday whether any such requests had been made.

The Minister of Finance's office says any request would need to be considered by the Cabinet.

Non-G20 countries including Sweden, Norway, Poland, Denmark, Switzerland, Singapore and the Czech Republic have reportedly pledged money.

G20 member Australia says it will contribute $NZ7 billion.