been dampened, at least for the moment, but the policy of the ecb. >> at the head of the international monetary fund has called for direct aid to help ailing banks. it would raise the bailout fund to 800 billion euros. so far rescue aid can only be delivered to spain's banks in directly. spain's banks have been hit particularly hard by bad loans. they did have good news for spain. they so let -- the successfully sold 2.5 billion euros' worth of bonds. after gains in early trading, the reactions to the successful bond auction in spain -- the united states led a two-day sell-off. we have the summary from the frankfurt stock exchange. >> at the end of a roller coaster drive, german shares a again have losses. these losses are the result of new worries about spain, the economy and spain is in general. the government has been able to sell new bonds relatively successfully, which has been taken quite positively, but at the middle of the session in frankfurt, spanish shares went down sharply. especially banking shares dragged down the main madrid index to the lowest level since three years, and this also d

g-20 ministers and bank governors will focus on boosting the lending power of the international monetary fund>>> imf analysts say the global economy will refrain fragile -- remain fragile through the end of the year. they have renewed concerns about european debt and the price of oil. the analysts say the global economy this year will expand by 3.5%. that's a slight increase from their january forecast. they raised their growth 2.1% and the one for japan to 2%. they upgraded the view of the eurozone by 0.2 percentage points. but they still think the region will contract by 0.3%. spain's economy will also shrink by 1.8%. >>> japan, denmark, norway and sweden have given a boost to imf managing director christine la gard. japan will lend an additional $60 billion to the fund. and the scandinavian countries will contribute a combined $26 billion. la gard is trying to raise $400 billion. she said stable funding for the imf would lead to a more stable world economy. sweden offered at least $10 billion. denmark $7 billion and norway more than $9 billion. >>> now let's check some economic figures fro

and since she took the helm of the international monetary fund, christine lagarde is called one of the most powerful people in the world today. christine lagarde brings a unique background to urgent challenges. born in france, her early education was in her native country and in maryland, followed by law school at the university of paris and press risk all at the political science institute in provence. she joined baker and mckenzie where she specialized in labor, and mergers and acquisitions. rising to their ranks to become chairman of the global executive committee and then chairman of the global strategic committee. a last six years at baker and mckenzie were spent in chicago. in 2005, she moved back to france as minister for foreign trade. two years later was named finance minister of france. the first woman to hold that post in any g-7 country. how christine lagarde has broken many barriers in her career. she has frequently been listed on the forms and "time" magazine list of powerful women. they now can see she is also a powerful person. the financial times and named her finance

. >>> the international monetary fund meets this month for more talks on europe and other issues and the house financial services committee asked treasury secretary timothy geithner about that meeting and the stability of international financial system. republican committee members opposed contributions to the imf to help resolve the european debt crisis. this hearing is about 2 1/2 hours. >>> this hearing will come to order. the purpose of the hearing today is to receive the annual testimony of the secretary of treasury on the state of international -- the international financial system. the chair would note the very notable absence of our chairman today, chairman bacchus, who is undergoing a minor surgical procedure. he is expected to rejoin us tomorrow. he regrets his absence. pursuant to rule 3 f 2 of the rules of the committee for the 112th congress, the chair announces the recognition of opening statements will be limited to the chair and ranking minority member of the full committee. and the chair and the ranking minority member of the subcommittee or their respective designees

the international monetary fund and the world bank are gearing up for their spring meeting that's happening now in d.c. they get officially underway at the end of this week in washington there is a view outside take a look at this the giant slauson a screen of world bank propaganda that's set up outside getting ready for these meetings that's amusing we don't think we've seen that before the world bank's mission remember is just support or to reduce poverty but it's been subject of course to much criticism over the years for social engineering shock therapy the lending conditions of the washington consensus so whatever on the poor we have some of our own ideas first let's look back at lore remember in medieval europe there were people like robin hood who would steal from the rich and give to the poor take a look. at the beating of lady a woman if you refuse there's no need for such rich. and. still and gems off their fingers well now you have the rich stealing from the poor through massive debts they cannot be repaid debt that are beyond the means of the borrower to repay whether it's a mor

money but she's here she's begging she's involved in a struggle to raise funds for the international monetary fund i mean fears that a fresh option of the global. financial crisis will leave the organization short of emergency cash i.m.f. officials so they did not expect the u.s. to respond to the call in an election year since any loan made would have to be passed by both houses of congress gross you had a designer handbag open and course that was counterfeit as well as you pick it up on the street outside the event from one of those bags sellers but to presume that this is not going to be coughed up is is false of course we'll cough it up because it'll be an assessment to once again try to defer the day of reckoning nobody wants to meet their maker in the death excuse me the debt market but the grim reaper is a laughing on the sidelines and you know the other interesting thing about this is is what you mean here she said is that oh we know america won't pay now because of course they're in an election year but it also shows the mentality of this global financial debt push for a class because the

welcome to our program, tonight we go to washington where there is a conference put on by the international monetary fund imf. we talk to christine lagarde, the director of the imf and several international financiers about the global economy and what we might expect in the years ahead. >> what makes me optimistic today is the fact that the imf membership, you know, rose to the challenge, decided to put over 430 billion dollars with the imf to deal with issues in the future. and you know, when i ask myself why are you optimistic, i always think of the dialogue between the who's -- -- and voltaire. he once said to voltaire, they didn't like each other. he said life is tough and voltaire looked at him and said compared with what. >> rose: wul a global frns from the imf conference in washington next. >> funding for charlie rose was provided by the following: captioning sponsored by rose communications >> tonight a special edition of charlie rose >> rose: . >> rose: we're in washington where the international monetary fund and world bank are hold, their annual spring meetings. finance ministers and central b

. >> he seems to have faded in public view compared to the international monetary fund, which has gotten so much spotlight. it means that shot in the arm, does it not, the organization at the moment? >> it certainly does. now that the imf is involved in things like the european crisis, the financial crisis, 10 years ago the world bank was quite prominent when people like tony blair and president bush were talking about development goals. that has all been relegated. you are exactly right. it needs a leader to come forward and bring it back into public consciousness right around the world. it really remains to be seen whether he can do that. >> but isn't this more an existential question about is the world bank the relevant organization it once was? in the next 12 years, you say the bank will lose more than half of its traditional customs? does that matter any more? >> it does matter for the very poor countries, particularly in africa. what we see in these countries like china and india, get on their own two feet, and in a few years, they will not need the world bank anymore. but the plac

congress is highly unlikely to approve additional funding for the international monetary fund because we've got our own economic problems. we've got an unemployment emergency and foreclosure epidemic. tons of people out of work and underemployed. we should focus on fixing those problems here at home. but i think we should look at the global financial panic as a warning sign about this radical right wing experiment of trickle down economics which proved to be a complete failure. we can't keep funneling money up to the top 1% in order to benefit the world's wealthiest individuals. that's not the way to run a country and if we keep doing that, we'll have civil unrest world wide. if we don't want to see that in america, then we need to make the wealthiest pay their fair share, like the rest of us. >> rick: matt, the last word. you can respond to that or talk about europe, whatever you want. >> yeah. europe has tried big, big government, big government programs, centralized authority, one currency, they passed cap and trade, which was foolish. now their debt has grown so big, it's unsustai

ladies and gentlemen, please join me in welcoming the managing director of the international monetary fund, christine lagarde. [applause] >> thank you very much. apologies for my appearance. i'm capable of breaking my knee. good morning. i like to acknowledge tom curley, who is stepping down as ap president after a lifetime of distinguished service in journalism. i want to thank kathleen very much for who she is under kind words of introduction. speaking of warm, you know, it is a testament to associated press. to have a french woman as the opener for the president of the united states, which in french which translate into -- "the american opener." well done. it is important for the imf to have an open and fully dialogue with its membership, particularly with the yen's states of america -- with the united states of america. thank you very much for having me. i don't know how you managed, tom, but this is complicated. i'm going to lift my paper. i came this morning with the simple message. the world needs u.s. economic leadership. now is not the time to withdraw or to phase out. now is the

. >> the international monetary fund has a boost in the resources by $140 billion, giving it more fire power to deal with the worsening european debt crisis. the imf head says the potential demand for lending is well in excess of its current resources. the g-20 finance ministers are also meeting on the sidelines in washington. the debt crisis remains the central focus of discussions. >> the eurozone is not out of the danger zone. but the mood was upbeat as the imf and world bank's spring meetings got underway in washington. >> the financial markets' crisis of confidence in the eurozone has not been completely overcome, but the essential decisions have been made and they are being implemented. the latest measure is to expand the imf's coffers by $400 billion, almost doubling its printing capacity if the crisis intensifies. the fund expects to meet that target. another problem is worrying investors. the head of germany's's central bank explained. >> the eurozone sovereign debt crisis remains the most serious economic risk, but the effect of oil prices is also becoming increasingly into -

to receive aid from the eu and the international monetary fund, greece has pledged to slash spending. without an economic recovery, more greeks will be returning to soup kitchens. >> finally, the highest building in new york city is under construction. it is being built on the site of the world trade center. >> on monday, workers erected steel columns, making the building higher than the iconic 1930's skyscraper. they will continue work on the building also known as the freedom tower. >> that is it for now. thank you for watching. we will have more news at the top of the our. >> we will see you again soon. -- we will have more news of the top of the hour.

on the osk areas haveof urban cente in oer to supply maet produ under pressure from the international monetary fundly '90s, gabon restructured its economic policy and is attempting to reduce the share of its economy coming from the oil sector. ( translated ): for a few years, oil will remain the principal source of the budgeted income of the state, but the government is working at the present time so that this dependence becomes less and less evident and so that other areas of the economy, especially agriculture and forestry, will also contribute a more important share to the state budget than it does now. narrator: but just the opposite occurred. by the beginning of the 21st century, oil had risen to 50% of gabon's gdp from 30% when we were first there in 1994. yet drops in production prevent the country from fully realizing potential gains. in a country dependent on non-renewable resources, some hope they can make forestry here sustainable. at the same time, they grant new permits to cut the forest at unprecedented rates. the dark green shows the area that is covered in forest. not long ago, it s

. >>> the international monetary fund says the global economy will remain fragile in 2012.t says this is mainly due the possibility of renewed concerns about european debts and the risk of soaring oil prices. the imf says the global economy is to expand by 3.5% this year. that's a slight increase from its january forecast of 3.3%. by country it raised its forecast for the united states to 2.1%. japan was revised slightly upward to 2%. the eurozone was graded by 0.2% making the region's growth forecast at minus 0.3%. the fund expects spain's economy to also shrink by 1.8%. >>> a british luxury fashion brand worn by winston church hill and margaret thatcher may soon have a new owner. the people designed the first waterproof fabrics and raincoats. but the 161-year-old company has gone under. aquascutum filed for bankruptcy protection after several years of poor sales. the company is under the control of an administrator. aquascutum was founded in 1851. it won widespread recognition for its waterproof coats. members of the british royal family, prime ministers and other dignita

measures will include boosting the lending capacity of the international monetary fund. japan's finance minister and bank of japan governor are taking part in the two-day meeting. japan has pledged $60 billion to the imf. other european nations also agreed to contribute. the fund's base will increase by 320 billion. a key focus is how emerging economies will respond. but the united states has decided not to give any extra financial support. the u.s. is the largest contributor to the imf. heads of the group of seven nations held talks before the meeting to iron out their differences. >> ahead of the g-0 meeting, the japan finance minister said he wants to make his views heard at every available opportunity. >> translator: the global economy may go back on to a stable path if a country outside the euro zone helps the imf boost its lending capacity. >> the g-20 meeting i also expected to discuss issues facing the global economy including surging crude oil prices. the finance chiefs are scheduled to issue a joint statement on friday. >>> imf managing director lagarde sought

. >>> our top story once again -- it appears the international monetary fund will likely achieve its target of getting fund contributions amounting to about $400 billion as countries coordinated their efforts to shore up its lending capacity. the group of 20 finance ministers and central bank governors just ended their first day of talks in washington. they discussed steps to contain the european debt crisis. measures will include boosting the lending capacity of the imf. prior to the meeting, japan pledged $60 billion to the imf. other european nations also agreed to contribute. this means the funds base will increase by at least $320 billion. in the day's discussions, countries including australia agreed to cooperate in the cause of the proceedings. >>> japanese finance minister told reporters that the first day of the meeting was fruitful. >> translator: i think the target of $400 billion is achievable. i hope this could give a great sense of relief and stability to the global economy. >> the g-20 members also discussed issues facing the global economy, including surging crude oil

. >> he seems to have faded in public view compared to the international monetary fund, which has gotten so much spotlight. it means that shot in the arm, does it not, the organization at the moment? >> it certainly does. now that the imf is involved in things like the european crisis, the financial crisis, 10 years ago the world bank was quite prominent when people like tony blair and president bush were talking about development goals. that has all been relegated. you are exactly right. it needs a leader to come forward and bring it back into public consciousness right around the world. it really remains to be seen whether he can do that. >> but isn't this more an existential question about is the world bank the relevant organization it once was? in the next 12 years, you say the bank will lose more than half of its traditional customs? does that matter any more? >> it does matter for the very poor countries, particularly in africa. what we see in these countries like china and india, get on their own two feet, and in a few years, they will not need the world bank anymore. but the plac

the international monetary fund is warning that europe risks a prolonged periods of economic contraction unless the nation's slow budget cuts. the financial times looks at how the scandal surrounding the alleged murder of the british businessmen neil heywood has reached downing street. outgoing president dmitry medvedev has signed a decree to create russia's first public tv station. >> the norwegian mass killer anders breivik has described is attacked as a pre-emptive strike against multiculturalism. >> the radical cleric has -- is back in jail after his bail was revoked. the british government begins a new attempt to deport him to jordan. the u.s. secretary of state hillary clinton will attend talks in paris on thursday as part of efforts to end the violence in syria. we have seen evidence that the cease-fire was -- is failing to hold. syria restricts access for journalists. but our journalists have been inside the country. this and this report. -- and they send this report. >> its started early. the helicopter staking its claim to the sky. unleashing its deadly confinement at will. thi

geithner called for europe's self-help efforts without relying too much on the international monetary fund. about china, he welcomed the country's decision last week to expand the daily floating ban of its currency against the u.s. dollar. but he denied that it represents the end of china's reform process and called on china to do more in its currency reform and expand domestic demand. china says it will introduce 5 million eco friendly cars by 2020. it's seen as an effort to combat the country's air pollution. they will prioritize making electric cars and plug-in hybrids and policies taken to encourage individuals to buy such cars. measures will include subsidies on a trial basis and building charging facilities. >>> china became the world's largest auto market three years ago, topping the united states. actions on the environment are apparently not keeping up with the pace of increased car ownership. this is causing serious air pollution. >>> south korea is known as a super power in the field of cosmetic surgery. noses, wrinkles eliminated, warts removed. south korean surgeons do it all.

the international monetary fund is hosting its spring meeting this weekend. therefore, 19th street northwest its closed. from pennsylvania avenue to g street. roads will reopen sunday night at 7:00. >> next on news 4 at 11:00. an arrest after a shooting in a local rite-aid farm spharmacy. >> terrifying moments as a teacher in virginia lined up his students and started firing blanks at them. tell you why he did it. >> lust and found. h -- lost and found. on the today show a woman is reintroduced to her dog after he disappeared. >> summer and winter. both days will be wet. which one might we be able to got outdoors and do a little something. >>> a man has been locked up after he shot a rite-aid manager in d.c. last week. ricky vincent charged with assault with intent to kill while armed. investigators say she was arrested after a viewer saw the surveillance video on the news. police say vincent opened fired in a robbery attempt and got away with a pack of candy. court records show she has a long criminal history. the rite-aid worker survived but is paralyzed fr

the g-20 group nations will pony-up more than $430 billion to the international monetary fund. this almost double's the i.m.f.'s lending power to deal the euro-zone's government debt problems. but the u.s. is backing out of a pled it made in 2009, saying europe does not need help from america. >> susie: disney shares moved higher today as its movie studio chief heads for the exits. rich ross, the man behind the studio's colossal spring movie flop "john carter" told employees he was leaving the company because the job was no longer the right fit for him. disney lost $200 million on "john carter" and it expects to take a quarterly loss on the flop. tom, before taking over the film studio two years ago, he led the disney channel. he had a lot of successful hits like "hannah montan" "high school musical" but it didn't work on the big screen. >> tom: it's a tough business with a very short memory for a lot of folks, susie. we had a mixed market overall. a couple of technology giants both helped and hurt the broad market today and both may have been driven by earnings. first, the lea

. >>> the head of the international monetary fund has urged the u.s. to consider boosting its contributions in case more bailouts are needed in debt-strapped europe. >> thank you very much and apologies. the recovery is still very fragile. the financial system in europe is still under heavy straits. >> in a speech in washington on tuesday, christine lagard said a faltering europe would have a negative impact on u.s. employment and economic recovery. she noted that many u.s. businesses profit from exports to europe and investment in the region. she is trying to persuade the u.s., the imf's largest contributor, to play a greater role. but some american lawmakers oppose any such move in the name of helping europe. the imf is aiming to secure the agreement of its member nations ahead of a meet with the world bank later this month. >>> a minority of u.s. fed policymakers wanted extra credit easing despite concerns over joblessness and their nation's economic outlook. that's according to minutes of last month's meeting of the u.s. central bank. the u.s. fede

international monetary fund managing director christine lagarde has repeated a need to boost its bailout lending capacity for indebted nations. this is to prevent the debt crisis from spreading beyond the eurozone. she said on thursday, some improvement in the economic climate has been seen because eurozone members agreed to boost their rescue fund. a series of global financial meetings, including the group of 20, are scheduled in washington next week. lagarde expressed her hope that some agreements will be reached to boost the imf bailout fund. >> by the expression of support by many of our members to increase our resources, and i'm hopeful that during the spring meetings that are coming up next week we will see development and we will make progress. >> the imf hopes to raise up to $500 billion for its rescue fund, but other nations outside the eurozone are reluctant to take actions, stating that efforts by eurozone members are not enough. >>> google posted record earnings for the january to march quarter. the online search giant's total revenue reached over $10.6 billion on the strengt

the international monetary fund has forecast that south korea's per capita gross domestic product will reach $30,879 in 2016. this is the first per capita gdp above $30,000 for the country. >>> a think tank says south korea's income gap has widened. the korea development institute reports that income inequality worsened around the time of the asian financial crisis in the late 1990s. it notes that the gap now is at a level seen in the early 1980s. some local governments are requiring major supermarket month. they're trying to help smaller stores get a bigger share of business. about 30% of big supermarkets across the country are now involved in this effort, and the number is expected to increase in the future. that wraps up today's report from seoul. back to tokyo. >> that was sue choi from seoul. >>> a u.s. venture firm backed by the two executives who run google plans to mine asteroids for rare metals. washington state-based planetary resources says there are over 1,500 asteroids near earth with rare metal deposits. the firm plans to first send a probe to determine which asteroids ho

. >>> according to the international monetary fund the general outlook for the global economy has improved slightly. this comes ahead of the imf meetings in washington this week. this briefing is about 45 minutes. >> good morning, everyone. welcome to this press conference on the latest world economic outlook. one of imf's flag ship publ publicatio publications. this is a live on the record press briefing. let me introduce the panel. we have today with us economic counselor and director of the research department. next to me is jorg, decresson. then the chief of the world economic studies division. and next to him is the head of the world economics division as well. with without much ado i'll pass this on to mr. blanchard who will give some opening remarks and then we'll open the floor to questions. >> good morning to all of you. i hope my voice will last for the duration. if it doesn't. for the last six months the world economy has been on what is best described as a roller coaster. in the fall before the european crisis became acute threatening another lehman size event and the end of re

geithner also called for europe's self-help efforts without relying too much on the international monetary fund. >>> and about china, he welcomed the country's decision last week to expand the daily floating band of its currency against the u.s. dollar but denied that this represents the end of china's reform process. he called on china to do more in its currency reform and expand domestic demand. >>> i have more business stories for you next hour. i'll leave with a check on the markets. >>> the tokyo metropolitan government is warning that 9,700 people could die if a major earthquake were to hit directly under the capital city. the death toll would be 50% more than an earlier estimate. the government's first estimate in six years is based on a worst case scenario of a magnitude 7.3 quake occurring in the northern part of tokyo bay. they also say the quake could be closer to the surface than previously assumed. it says about 1/3 of tokyo's 23 wards could experience tremors up to an intensity of seven, which is the maximum on the japanese scale. it also predict a wider area could experience trem

>> coming up in 45 minutes, remarks from christine lagarde, head of the international monetary fund. that organization has agreed to lend money in exchange for her financial reforms to help europe through its financial crisis. she will speak to the american society of news editors and the associated press. that will be live at 10:45 eastern on c-span. coming up this afternoon, more from that event as president obama delivers the keynote address. he will talk about the 2013 federal budget as well as the house republican plans the past in that chamber last week. he joins every president since calvin coolidge in addressing the american society of news editors. you can see it live starting at 12:30 eastern on c-span. tonight, "road to the white house" coverage continues with primary results from wisconsin, maryland, and the district of columbia. we will bring his speeches from campaign headquarters and simulcast the coverage. you can join us at facebook.com or twitter guest: >> this past weekend, little rock, arkansas, with booktv at the university of arkansas. >> collected photographs,

. >>> global fiscal risks are declining but remain high according to the international monetary fund which released its fiscal monitor report yesterday. many countries needed government support to get through the global recession causing their deficits to balloon. austerity measures adopted by some countries improved the outlook but imf cautions deficit reduction goals should not hamper growth. this is salve 45 minutes. this is about 45 minutes. >> good morning, everybody, and welcome to the press conference on the 2012 fiscal monitor of the april edition 2012 fiscal monitor. you have seen the monitor, which the embargo on the monitor has just been lifted. the press conference is led by head of the fiscal affairs department with two colleagues. carlo will offer opening remarks and then we open this press conference for your questions. i invite also all journalists watching this online to send questions through our press center now. carlo? >> thank you very much, and thanks to all of you for being here. before -- saying before my colleagues and i answer your question, i would like to

a new report by the european union, the european central bank, and the international monetary fund makes that -- things that unlike raese, the country will not need a second rescue package. the report also stressed the need for further economic reforms, including privatization of state assets. >> the united states has put a 10 million-dollar bounty on a pakistani islamist leaders suspected of planning imam by terrorist attack in 2010. >> the reward for the capture was posted on the state department's website today. the founder of the militant group lives openly in pakistan where he runs a charity, but the united nations says that charity is a front. to the u.s. now where police in oakland, california, say the former student who killed seven and wounded four was a 43-year- old south korean national bent on righting perceived slights by students and administrators. >> the suspect gave himself up to police in a nearby supermarket. uthorities say the killer opened fire in the middle of a nursing class. >> when the police arrived, five people were already dead. swat teams were deployed becaus

. >> now, international monetary fund managing director christine lagarde speaking at the closing news conference of the imf world bank annual spring meeting. she discussed the consensus within the group that struggling governments must be reformed or risk raising economic danger. this is 35 minutes. >> good afternoon, everyone. welcome to this press conference. the governing committee of the imf, it is my pleasure to introduce

. >>> coming up on c-span, international monetary fund managing director christine leg ard. you can watch that live starting at 10:0045 eastern on our companion network c-span. >>> the congressional internat caucus advisory committee hosted a briefing on the frustration administration's new internet privacy plan. the plan calls on congress to pass a privacy bill of right and gives the government new enforcement powers and calls on the commercial department to work with private industry on new rules. daniel weisner leads this 40-minute discussion. >> welcome, everybody. thank you so much for coming during recess. i appreciate it. today we have a briefing by the white house on their proposal on privacy in the digital age called consumer data privacy in a networked world. we're very fortunate to have a deputy chief of technology at the white house here. his name is danny whitesfehr. this is part of a three-part privacy hearing we're doing on government professional poe als in this digital era. we had the director general of justice and european commissioner here to brief the co

hungarian government asked for financial support last november from the eu and from the international monetary fundgovernment leaders said their finances would get worse. the currency dropped in value after getting caught up in the european debt crisis. however, eu officials stopped the bailout talks. they decided hungarian proposals to reform the central bank would undermine the bank's independence. the eu official said this could violate eu law. >>> french presidential candidate francois hollande has vowed to push for revision of the eu treaty. he said it should include measures to encourage economic growth while maintaining fiscal discipline. the socialist candidate is the front-runner in france's presidential election. he maintains a ten percentage point lead in a recent poll over the incumbent nicholas sarkoesy. hollande said he would take changes in the pact. it was signed earlier this year and focuses on tightening budgets. he provided detalss with plans, including the issuance of common bonds. government bonds backed by all 17 member nations of the eurozone. he also proposed a financial tra

global economy, there's a good chance you'll find them here at the spring meeting of the international monetary fund. the i.m.f. is basically the world's financial fire brigade, and the clear focus here now is on preventing another flare-up of the euro crisis. to that end, i.m.f. managing director christine lagarde is beefing up the fund's resources. she has $320 billion in commitments for new funds in hand, and aims to hit $400 billion soon. >> as part of the outcome of this meeting, we expect our firepower to be significantly increased. >> reporter: but that's the back-up plan. lagarde urged europe to keep up with its own crisis reforms. it could start by bolstering its new european stability fund so the i.m.f. doesn't need to step in. lagarde said that new fund should also lend directly to banks that get in trouble. >> and we would see that as a move towards stronger and better integration, stronger and better europe. >> reporter: that would also help spain. there are new fears the spanish economy is faltering. the pile of bad debts hit a 17- year high at spanish banks. on top of that, madrid is

pledged over four hundred thirty billion dollars to protect world economic growth the international monetary fund stride to support really the recovery now the euro is losing value against the dollar but it regained some ground from the ruble on friday after a week with paul didn't use from italy spain and france to the opening bell here in moscow friday turned a mostly negative week on the back of stronger oil and the maker of kalashnikov rifle is on its way to exit bankruptcy despite being the world's leading producer of the factory was right top six hundred million dollars of debt as of twenty ten it's now finished the first stage of recovery. the more the with two current gen more those which went through a very deep hole for just rushing through the bankruptcy case and creation of a new company which to all who despots until just sold better it's a similar strategy we used to use marshall designed all the factory was for single for the very must production sold no market demands many more products with much less warriors sold efficiency or production we need to change and that's what we're w