THE Monetary Authority of Singapore (MAS) said on Monday will 'significantly expand' its contribution to the resources of the International Monetary Fund (IMF).

It will raise its contribution to US$2 billion from $0.5 billion currently, the central bank said.

This comes after G-20 leaders said in April that it is tripling the IMF's reserves to help countries roiled by the worst recession since World War II.

MAS managing director Heng Swee Keat said that Singapore's decision demonstrates its long-standing commitment to a well-resourced and effective IMF.

The Washington-based agency has given aid to countries including Hungary, Romania and Latvia to cope with the financial crisis.

'The IMF plays a key role in helping countries respond to unanticipated stresses in their external payments, and in maintaining global financial stability,' Mr Heng said in a statement.