Britain is prepared to increase its contribution to the International Monetary Fund (IMF) if other leading non-European countries join in, Chancellor George Osborne told a parliamentary committee on Wednesday.
However, Osborne also repeated his resistance to any form of support directly earmarked for the euro zone debt crisis.
Britain is willing to make a contribution if there is a well-argued case brought forward by the IMF, and other G20 countries agree with us that there is a well-argued case and want to make a contribution, Osborne told the Treasury Select Committee in a hearing.
We have to act alongside other shareholders like Japan, like China, like Australia and so on, Osborne said.
Britain's government has emphasised that it does not want to be drawn into financing solutions for the euro crisis, though Osborne has also flagged his readiness to prop up the IMF's resources before.
Euro zone countries are hoping that a better funded IMF can help build a firewall against the raging debt crisis.
Britain has already bowed out of euro zone efforts to boost IMF resources by 200 billion euros (165.7 billion pounds), which has left the currency bloc more reliant than ever on major economies such as China and Russia.
Osborne said meetings of G20 finance officials and ministers in Mexico, which holds the presidency of this group of 20 leading industrialised and emerging economies this year, will provide opportunities for the IMF to make its case for more funds.
We want to make sure that that money was going into the general resources of the IMF and we want to make sure -- as was clear in Cannes -- that it is not a substitute for the euro zone also taking action to deal with the stability of its own currency, Osborne said in reference to the G20 summit in the French city of Cannes in early November 2011.
(Reporting by Sven Egenter; Editing by Ruth Pitchford)