Japan considers helping Europe with $50 billion

7 years ago by in Featured, World

Japan may contribute with up to $50 billion to the International Monetary Fund (IMF), as assistance to indebted Europe, according to an official from the finance ministry.

The money could come from a refund from the $100 billion Japan gave to the IMF in 2009, to fight the international financial crisis.

The IMF is trying to increase its funding capacities to lend European Union states affected by increasing sovereign debts. The Fund said in January that is looking for ways to gather a supplement of up to $500 billion to tackle the European crisis.

Despite efforts from the Fund’s chief, Christine Lagarde, of lobbying G20 leaders, the U.S. has already said it would not contribute more money.

Japan has not yet made a final decision on the exact amount it would provide the IMF. On the other hand, Japan’s finance minister Jun Azumi has reiterated this week that “there may still be some room for Europe to make efforts” to recover from the debt crisis.