The International Monetary Fund would require more than US $ 430 billion in additional resources to be able to handle any new crisis occurring in the eurozone.

IMF managing director Christine Lagarde announced the figure of US $ 430 billion after discussions with the leaders of the G-20 countries on Friday. She also pointed out that countries including Russia, India, China and Brazil have pledged support but will not announce officially until their confirm the commitment with the central governments.

She said that when the total public and private commitments are added it the figure exceeds the required US $ 430 billion mark. This would increase the he international financial organization’s recorded nearly two fold allowing it to lend more to nations facing economic difficulties.

Lagarde described the fundraising initiative a huge effort that would increase the current $485 billion to about US $ 1 trillion. "We have the necessary tools in the toolbox and we will use this wisely," she said. She was speaking at a news conference wrapping up discussions of the G-20.

Meanwhile, India has asked the leading economies of the world including those in the ‘G-20’ grouping for creating a "credible and ambitious" action plan in order to put the global economy on the track of recovery and bring strong, sustainable and balanced growth for nations.