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Japan Says Considering Aid to IMF but Waiting for European Decisions

Industry News 08:28:17AM Feb 27, 2012 Source:SMM

Japanese Finance Minister Jun Azumi said here Saturday that his country is considering aid to the International Monetary Fund (IMF) to cope with the debt crisis in the eurozone but expecting Europe to make its own efforts.MEXICO CITY, Feb. 27 -- Japanese Finance Minister Jun Azumi said here Saturday that his country is considering aid to the International Monetary Fund (IMF) to cope with the debt crisis in the eurozone but expecting Europe to make its own efforts.

"We hope to see how Europe will make concrete efforts then we discuss how we can help, "Azumi, who is here for the meeting of finance ministers from the G20, told journalists.

Brazil and Canada have showed unwillingness to fund the IMF until Europe makes extra efforts to resolve the crisis.

Meanwhile, U.S. Treasury Secretary Timothy Geithner said he would also wait more concrete actions from Europe.

The G20 meeting discusses how to strengthen the support mechanism of the IMF against the eurozone debt crisis.

But analysts say it is hard to reach an agreement in the two-day meeting as divergences among the G20 countries on the issue can't be resolved in the near future.

The European Union has urged the international community to pump more money into the IMF, but some members of the G20 oppose to the proposal as they think the resources of the IMF can not substitute a healthy and strong European rescue fund.

 

Key Words:  Japan; IMF; 

Japan Says Considering Aid to IMF but Waiting for European Decisions

Industry News 08:28:17AM Feb 27, 2012 Source:SMM

Japanese Finance Minister Jun Azumi said here Saturday that his country is considering aid to the International Monetary Fund (IMF) to cope with the debt crisis in the eurozone but expecting Europe to make its own efforts.MEXICO CITY, Feb. 27 -- Japanese Finance Minister Jun Azumi said here Saturday that his country is considering aid to the International Monetary Fund (IMF) to cope with the debt crisis in the eurozone but expecting Europe to make its own efforts.

"We hope to see how Europe will make concrete efforts then we discuss how we can help, "Azumi, who is here for the meeting of finance ministers from the G20, told journalists.

Brazil and Canada have showed unwillingness to fund the IMF until Europe makes extra efforts to resolve the crisis.

Meanwhile, U.S. Treasury Secretary Timothy Geithner said he would also wait more concrete actions from Europe.

The G20 meeting discusses how to strengthen the support mechanism of the IMF against the eurozone debt crisis.

But analysts say it is hard to reach an agreement in the two-day meeting as divergences among the G20 countries on the issue can't be resolved in the near future.

The European Union has urged the international community to pump more money into the IMF, but some members of the G20 oppose to the proposal as they think the resources of the IMF can not substitute a healthy and strong European rescue fund.

 

Key Words:  Japan; IMF;