Japan finance minister to hold talks on IMF funding this week

TOKYO Wed Apr 11, 2012 7:54am EDT

Japan's Finance Minister Jun Azumi speaks during a group interview at his ministry in Tokyo April 11, 2012. REUTERS/Toru Hanai

Japan's Finance Minister Jun Azumi speaks during a group interview at his ministry in Tokyo April 11, 2012.

Credit: Reuters/Toru Hanai

TOKYO (Reuters) - Japan will enter talks with other countries this week on how to respond to the International Monetary Fund's call to boost its resources to tackle Europe's debt crisis, Finance Minister Jun Azumi said on Wednesday.

Azumi said he hopes Japan will clarify its stance on IMF funding in time for next week's meeting of Group of 20 finance chiefs in Washington, after thoroughly consulting with China and other countries.

Finance leaders from the world's 20 biggest economies will discuss an increase of resources for the IMF to help it tackle euro zone debt problems when they meet next week in Washington.

Last month Europe expanded its own bailout capacity to 700 billion euros from 500 billion, hoping that G20 finance chiefs would agree to contribute more money to the IMF.

The IMF is seeking to more than double its war chest by raising $600 billion in new resources to help nations deal with the fallout of the euro zone debt crisis.

(Reporting by Tetsushi Kajimoto; Editing by Joseph Radford)

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