IMF secures $430 billion in crisis funding

The IMF says it has raised more than $430 billion to help bolster confidence in finance markets with a cash reserve to mitigate problems from Europe's continued debt crisis.
But not all nations were on board: BRIC Nations, Brazil, Russia, India, China and South Africa--gave a fragile show of unity in withholding funding for the IMF.

The US and Canada have been resistant to the fund raising move--US Treasury Secretary Timothy Geithner said that aid from the US would be supplemental.

US officials are hoping other countries will contribute to stronger financial stability. Geithner and Secretary of State Hillary Clinton plan to visit Beijing next month for talks highlighting strategic and economic solutions. The sentiments that Geithner expressed this week could be a prelude to talks with China.

China has voted to broaden the Yuan’s trading position--a decision that is being looked upon favorably by the US and others in the international community.

Iran's Finance and Economic Affairs Minister says that the issue over fuel prices and US sanctions are even more important if the goal is to create global economic stability.

Three nations-- Greece, Ireland and Portugal-- have already been forced to accept IMF rescue packages with sizable support from other countries relying on the Euro.