Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

Fisher Capital Management Korea News: Japan Pledges $60 billion to IMF

By Fisher Capital Management Korea News Subscribe to RSS | June 20th 2012 | Views:
loading
 
  



http://korea.fishercapitalmanagementkorea.com/2012/05/07/fisher-capital-management-korea-news-japan-pledges-60-billion-to-imf/

Japan has pledged a USD 60 billion loan to the International Monetary Fund this week in an attempt to make sure that the debt crisis in Europe will not spread farther.

Jun Azumi, Finance Minister of Japan, has announced the emergency loan that would use the country’s foreign exchange reserves. The ministry added that Japan will formally announce the pledge during this week’s joint meeting of the G20, World Bank and IMF in Washington.

Japan, the third-largest economy in the world is the biggest donor outside of the Eurozone in IMF’s second round of reserve increase in the last three years. According to Fisher Capital Management Korea News, Japan is hoping that its pledge will accelerate and encourage more commitments from other countries such as China.

IMF Managing Director Christine Lagarde was quick to welcome the initiative and encouraged other members to follow suit.

“This is an important step forward in the ongoing international effort to strengthen the adequacy of the global resources available to prevent and fight crises and to promote global economic stability,” said Lagarde.

Japan’s announcement of support came amidst international discussions on how to increase IMF lending facilities after it announced in January that it would need more resources to aid European nations in securing them against the sovereign debt crisis. However, Azumi said that Japan chose to help despite of its opinion that Europe had not made enough efforts by itself to boost crisis defenses.

IMF, acting as a lender of last resort for governments, is looking to boost its funding by USD 600 billion although securing clear commitments at the Washington meetings is bound to be difficult. For starters, largest shareholder United States has refused to take part in the efforts while Russia, Brazil and China express willingness to contribute if they will get more voting power for it. Canada is not at all interested in chipping in a fund to bail out Europe, saying that it only has enough resources to deal with its own crisis.

Lagarde seems pleased as Japan’s aid will add to the USD 200 billion of pledges that came from Eurozone countries, enabling a “decisive progress to be made” by the time of the conference.

It is crucial that IMF funding be reinforced to make sure an end to a crisis in the economy of, not only the Eurozone, but also of Asian countries like Japan and Korea. Portugal, Ireland and Greece have previously sought bailouts after their borrowing costs jumped and today, many are speculating that Spain might be next — the worst part is, it is considered very expensive to rescue. This increases the possibility that the Eurozone’s 4th-largest economy among its 17 euro-members may need an international bailout.

After IMF co-financed bailouts in Ireland, Portugal and Greece, it only has around USD 380 billion available in its fund reserves. Fortunately, Lagarde remarked last week that IMF might not need as much money as previously announced due to decreasing economic risks. Officials from G20 speculate that the major economies seem likely to agree in providing USD 400-500 billion.

Fisher Capital Management Korea News noted that Japan’s move probably aims to show that it is cooperating in the global economy’s condition. It is also aware that a stabilized European economy means a better market for them as well. Actually, it is in everybody’s interest that Europe recovers soon. Furthermore, Japan’s pledge might just add more stability to financial markets that are suffering over the past few weeks as crisis flared up in Spain again.

Fisher Capital Management Korea News - About Author:
All about activities, latest headlines, what’s the latest technology, what’s new on the net, any latest science discoveries, financial planning and tips, music, gig and fashion, food, travel and vacation —– and everything around us.

Share on Facebook Tweet It Stumbleupon this post This post is delicious !

Article Source:
http://www.articleside.com/finance-articles/fisher-capital-management-korea-news-japan-pledges-60-billion-to-imf.htm

Related Finance Articles Subscribe to RSS

Essentials for Investment decision and money management
Published by Isol on August 13th 2012 | Finance


Investment is a concept involving restoring your money via acquiring of assets, lending fin...
 
How to choose the right debt management company
Published by James Falla on November 30th 2011 | Finance
There are many different debt management companies. We suggest the things you should consider when ...
 
The Different Types of Scottsdale Property management
Published by Ray on April 3rd 2012 | Finance
If an individual has any kind of property, be it commercial or residential related he will need some...
 
Top tips for money management and using a credit card
Published by Jesse Wallace on June 6th 2012 | Finance

Learning how to use your credit card effectively could help you balance and manage your debts....
 
Financial Planner: Time to do savings through smart management
Published by Avena Sowell on December 21st 2011 | Finance
Financial planning can help one to manage the financial resources optimally and thereby generating h...
 
Why hire a credit card debt management company?
Published by Yossi A on January 12th 2012 | Finance
As a matter of fact, it not only clears your already existing debt but also offer valuable technique...
 
Simply what does debt elimination signify and how can debt management programs help you become free of debt?
Published by Deby Suportie on April 4th 2012 | Finance
Debt elimination is a service given by debt management plans to provide assistance to those who are ...
 
Debt management plan: are they right for you?
Published by William Booker on May 15th 2012 | Finance
Don’t choose any debt management plan unless if suits your demands. Ensure that the program crafte...
 
Financial advice on Capital management
Published by Abhijeet on January 30th 2012 | Finance
The appropriate admonition in looking addition that can advice your business or aggregation to the a...
 
I am in a debt management plan and have been made redundant – what can I do?
Published by James Falla on November 28th 2011 | Finance
With the possibility of wages being reduced and jobs being lost as a result of the government cuts, ...
 
Exactly what is a debt management program and just how can I get this service?
Published by Deby Suportie on February 15th 2012 | Finance
This article provides information about debt management program and it's significance in today's tim...
 
Debt management plan why to opt for one
Published by Ashish Pandey on February 2nd 2012 | Finance
Debt management plan when used properly can help you to get the best of debt solutions....
 
HOA management- Capable providers for financial as well as property management
Published by Ema Sis on January 12th 2012 | Finance
HOA management companies shall be actual asset for communal administration amenities. They undertake...