The United States and China have diametrically opposing views on the International Monetary Fund's financial resources.

Washington sees adequate firepower, whereas Beijing says it may be insufficient in the face of the eurozone debt crisis.

"As the European sovereign debt crisis unfolds, demand for IMF financing from its members has increased dramatically," China's central bank chief, Zhou Xiaochuan, said in a speech Saturday to the IMF steering committee.

"However, its available financial resources may not be adequate to meet the potential needs of the crisis-hit countries."

The United States is on the opposite track.

"The IMF has adequate resources," a US Treasury official who asked not to be identified said Wednesday.

The official pointed to a November 2010 agreement to double the permanent contributions, or quotas, of its member states.

But before the quota reform can take effect, a sufficient number of national parliaments must ratify it. About 40 have done so, of the 113 needed.

The subject is delicate for the United States, the biggest contributor to the Fund's resources.

Republican lawmakers, who control the US House of Representatives, routinely voice opposition to international institutions like the Washington-based IMF.

The IMF today has $630 billion available to help middle- and high-income countries.

Paring off the financing already promised to Greece and to other countries, and excluding its reserves cushion, the IMF has the capacity to lend $383 billion over the next 12 months.

For the IMF managing director, Christine Lagarde, that may not be enough.

"The Funds credibility, and hence effectiveness, rests on its perceived capacity to cope with worst-case scenarios. Our lending capacity of almost $400 billion looks comfortable today but pales in comparison with the potential financing needs of vulnerable countries and crisis bystanders," she said in an IMF action plan released Saturday.

"It will be useful to discuss, soon, the needs and contingency options."

Since taking the IMF helm in July, Lagarde has made increasing its resources one of her battle cries.

Japan is on board, and is prepared to put more money into the coffers of the international emergency lender.

"It might be worthwhile to consider enhancing the Fund's financial resources," said Jun Azumi, the Japanese finance minister.

He suggested that the 187-nation institution "establish a facility capable of swiftly providing the necessary liquidity to member countries that are good performers" to prevent contagion from crises.

Speaking on behalf of six south American countries, the governor of Chile's central bank, Jose De Gregorio, called for "higher priority" to be given to the financing question.

There was no dearth of ideas for how to use any new resources.

It was "worth considering the creation of a multilateral facility where the Fund and central banks work together to provide liquidity to member countries facing financing pressure," Nigerian Finance Minister Ngozi Okonjo-Iweala said, representing 21 Sub-Saharan African countries.

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