G-20

India  announced a $10 billion contribution to the IMF’s additional $430 billion financial firewall to help the debt-wracked 17-nation eurozone so that the faltering world economy is protected against the spread of any financial contagion. 

The announcement was made by Prime Minister Manmohan Singh in his address at the Plenary Session of the seventh summit of the Group of developed and developing countries (G-20) in the Mexican resort town of Los Cabos against the backdrop of growing calls to nations to increase contributions to the International Monetary Fund (IMF) for the bailout fund.