The G-20 will not decide on boosting resources for the International Monetary Fund until after euro-zone officials agree on their own rescue fund at a summit in early March, Lael Brainard, Treasury undersecretary for international affairs, said Wednesday
The IMF is currently seeking to raise up to $500 billion in additional lending resources so it's better equipped to respond to the euro crisis and other emergencies.
But the United States and other countries are pushing Europe to first bolster the firewall designed to prevent the debt crisis from engulfing Spain or Italy
Brainard refused to give details on the size of the rescue fund, saying only that it must be big enough to convince financial markets "of the commitment by the members of the euro area to protect the euro area."
She added that the firewall also must be "fully operational" and able to provide emergency funding for bank recapitalizations and sovereign needs
Europe's debt crisis will be a topic of discussion at the G-20 finance and central-bank officials' meeting in Mexico City this weekend, according to Brainard
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