Arab Today, arab today japan pledges 600 bn to imf for europe firewall
Last Updated : GMT 21:20:40
Arab Today, arab today
Arab Today, arab today

Japan pledges $60.0 bn to IMF for Europe firewall

Arab Today, arab today

Arab Today, arab today Japan pledges $60.0 bn to IMF for Europe firewall

Tokyo - AFP

Japan said Tuesday it would give the International Monetary Fund $60.0 billion as part of the organisation\'s bid to boost a global firewall against Europe\'s debt crisis. The decision comes several days before a Group of 20 finance chiefs\' meeting in Washington that is expected to focus on the issue as fresh concerns over the region arise, with Spain now in sight as its borrowing costs spike. It makes Japan the first non-eurozone country to announce a pledge, which will be formally announced at the talks starting Friday. Eurozone contributions have so far hit $200.0 billion. \"Finance Minister (Jun) Azumi announced plans today that Japan will provide $60.0 billion in order to strengthen the financial base of the IMF,\" a ministry spokesman said. Azumi said he thought it was \"important to make public our attitude if we are to help forge an early agreement,\" Dow Jones Newswires quoted him as saying. IMF chief Christine Lagarde late Monday welcomed Tokyo\'s contribution and urged other member states to follow suit. \"This is an important step forward... to prevent and fight crises and to promote global economic stability,\" she said. Lagarde added that \"Japan has a longstanding record of helping others, and of supporting the IMF in its core mission of helping to support economic stability in all its member countries.\" Earlier this year, the Washington-based fund said it would likely need an additional $500.0 billion to help European countries strengthen their defences against the crisis, but Lagarde has recently said the figure may now be lower. A strong yen and sinking demand in key European markets have dented Japan\'s export-oriented economy, with Tokyo a regular buyer of debt issued by the European Financial Stability Facility bailout fund since last year. Japan has been talking with other members of the IMF such as China and European nations to finalise their contributions. Tokyo, the second-biggest IMF stakeholder after the United States, has welcomed a recent decision by eurozone finance ministers to temporarily increase their bailout funds to 700 billion euros ($917 billion) from 500 billion. The move was aimed at preventing contagion from the fiscal problems in Greece, Ireland and Portugal spreading to bigger members including Italy and Spain. Madrid in Monday saw the yields on its benchmark 10-year bonds jump above six percent for the first time since late last year as dealers grow concerned it will have trouble closing its huge public deficit. On Tuesday, Azumi also said he did not think Europe has done enough to tackle its financial crisis, but he has previously credited the European Central Bank for its moves to tackle the issue. The ECB has chopped eurozone borrowing costs to an all-time low of 1.0 percent and embarked on a hotly contested programme of buying up the bonds of debt-mired countries. In two so-called long-term refinancing operations in December and February, it pumped more than 1.0 trillion euros into the banking system in a bid to avert a credit squeeze in the 17 countries that share the euro.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today japan pledges 600 bn to imf for europe firewall Arab Today, arab today japan pledges 600 bn to imf for europe firewall

 



Arab Today, arab today
Arab Today, arab today Saudis await visitors but will they come?

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Blind sheikh buried in Egypt

GMT 06:32 2017 Thursday ,23 February

Blind sheikh buried in Egypt
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success

GMT 16:32 2017 Wednesday ,22 February

US Treasury chief tells IMF to monitor currencies

GMT 16:08 2017 Wednesday ,22 February

Qatari banks merger to rebalance financial sector

GMT 05:57 2017 Wednesday ,22 February

Britain risks clash with EU over RBS bailout

GMT 05:26 2017 Wednesday ,22 February

Singapore carbon tax would hit refiners, help renewables

GMT 05:18 2017 Wednesday ,22 February

Chinese PM: US should avoid ‘trade war,’

GMT 20:59 2017 Tuesday ,21 February

Economy good, but homes in German cities overpriced

GMT 05:29 2017 Tuesday ,21 February

Sovereign funds pulled $38bn from markets in 2016
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Salma Rashid happy for 'A Whisper of Love'

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday