{"id":14242,"date":"2012-10-12T02:10:28","date_gmt":"2012-10-12T02:10:28","guid":{"rendered":""},"modified":"2012-10-12T02:10:28","modified_gmt":"2012-10-12T02:10:28","slug":"Japan-to-loan-60-billion-to-IMF-","status":"publish","type":"post","link":"https:\/\/asiancemagazine.com\/?p=14242","title":{"rendered":"Japan to loan $60 billion to IMF"},"content":{"rendered":"

The Japanese government signed a deal today with the International Monetary Fund to provide $60 billion in emergency loans to the multilateral lender amid the global economic downturn aggravated by Europe’s sovereign debt crisis.<\/strong><\/p>\n

The contract, announced in April, came as other IMF members made similar contributions to help boost resources at the fund. As of June, the Washington-based body had received offers totaling $456 billion, according to the Finance Ministry in Tokyo.<\/strong><\/p>\n

Japan, the second-biggest stakeholder in the IMF after the United States, made the largest contribution among non-European members.<\/p>\n

The resource boost reflects concerns that the fiscal and banking problems in the eurozone that have had a negative impact outside the region through trade and financial channels<\/strong>, may eventually force the IMF to handle aid requests from affected members in the developing world.<\/p>\n

Kyodo<\/em>
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