adminif we are to ensure that the crisis is completely over”.
The announcement comes several days before a Group of 20 finance chiefs’ meeting in Washington that is expected to focus on Europe’s debt, with the spotlight now on Spain as its borrowing costs spike.
Azumi said that the US$60 billion, which will come in the form of emergency loans using Japan’s foreign-exchange reserves, was “important to make public our attitude if we are to help forge an early agreement”.
IMF chief Christine Lagarde welcomed the pledge 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.
The Washington-based fund earlier this year said it would likely need an additional US$500 billion to help European countries strengthen their defences against the crisis.
But Lagarde told a German newspaper that the lender was scaling back its debt-crisis funding needs to “US$400 billion plus”.
“My hope is that we will get a critical mass this week,” added Lagarde in comments published yesterday by the German daily Frankfurter Allgemeine Zeitung. — AFP.
Online Reporter
- Herald
- July 31, 2026
- 24 views
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