India, France Boost IMF Reserves

India will provide as much as $10 billion to the International Monetary Fund,

reports. The sum will be invested in the fund's notes, which are considered as international reserves. Meanwhile,

has also signed an agreement with France over the provision of some 11.06 billion euros ($15.8 billion) to help the Washington-based lender scale up the balance of payments of crisis-hit member nations. The funding forms part of the 75 billion euros pledged by the European Union early this year to boost the fund's lending capacity.

About the author

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    Ma. Rizza Leonzon

    As a former staff writer, Rizza focused mainly on business coverage, including key donors such as the Asian Development Bank and AusAID.