Qatar agrees to contribute to IMF as British PM seeks support
Doha - British Prime Minister Gordon Brown arrived in Abu Dhabi Monday as he completes a four-day Gulf tour which already took him to Saudi Arabia and Qatar.
Brown has already received assurances from Saudi Arabia and Qatar that they will contribute to an International Monetary Fund (IMF) account to stabilize national economies rocked by the global financial crisis.
Brown will seek similar assurances in Dubai. Before starting his trip, he said Gulf states are currently better positioned to lend than other nations, as several years of record oil prices have left the monarchies sitting on huge cash reserves.
The IMF estimates that the region's sovereign wealth funds are worth between 2 trillion and 3 trillion dollars. On Friday, it emerged that Barclays, a British bank, had raised 7.3 billion pounds (27.9 billion dollars) from investors including the Qatari and Abu Dhabi royal families.
Brown is accompanied by Britain's Business Secretary Peter Mandelson, Energy Secretary Ed Miliband among a delegation of more than 20 senior British executives.
His tour comes ahead of a global summit to draw up new international financial rules, to be held in the United States on 15 November.
He also secured a 140 million pound (225.7 million dollars) promise from Qatar to invest in a clean technology fund. (dpa)