Saturday, November 15, 2008

Japan offers $100 bn to IMF, calls on China

Japan has offered to lend the International Monetary Fund (IMF) $100 billion to help stabilize the world economy.

Japanese leader Taro Aso also called on China to contribute to the IMF. Both Japan and China depend on exports to propel their economies and they have an interest in stimulating consumption among their economic partners.

"It doesn't have to be Japan alone that would provide such funds," Aso said in an interview Friday with The Washington Post. "Oil-producing countries, China and other countries that have ample reserves could also make their contributions."


Japan's Leader Urges China to Contribute to IMF
FOXNews - 2 hours ago
Aso earlier announced that Japan was ready to lend up to $100 billion to the IMF. "It doesn't have to be Japan alone that would provide such funds," Aso ...
Japan Offers IMF $100 Billion to Fight Financial Crisis Voice of America
IMF head welcomes Japanese cash offer AFP
IMF Bailouts: Austerity Is The Answer?Newsweek

This IMF photo shows Japan's Finance Minister Shoichi Nakagawa (L) as he meets with International Monetary Fund Managing Director Dominique Strauss-Kahn in Washington, DC on November 14, 2008. Japan on Friday announced a plan to lend up to 100 billion dollars to the International Monetary Fund to help provide financial lifelines to crisis-hit emerging countries, officials said.(AFP/IMF/File/Eugene Salazar)