China on Monday offered $43 billion to the IMF's crisis-fighting reserves. China's contribution was part of a pledge by Group of 20 countries made in April to supply the International Monetary Fund with extra financial needs, according to a report of Reuters. "These resources are being made available for crisis prevention and resolution and to meet the potential financing needs of all IMF members," said IMF Managing Director Christine Lagarde. "They will be drawn only if they are needed as a second line of defense" when other IMF loans have been depleted, she said in a statement during a Group of 20 summit in Mexico. The leaders of BRICS nations -- Brazil, Russia, India, China and South Africa -- said earlier that they "agreed to enhance their own contributions to the IMF" but had insisted that the money be used only after existing funds were depleted. According to a chart published by the IMF, Brazil, Russia and India each pledged $10 billion, while South Africa offered $2 billion. G20 host Mexico also contributed $10 billion. "Countries large and small have rallied to our call for action, and more may join," said Lagarde, who said total pledges had reached $456 billion -- "almost doubling our lending capacity."
