A report in the daily Nikkei paper that the G20 was putting together an International Monetary Fund (IMF) $600 billion lending facility to help the euro zone was denied, first by the IMF and then Canada, and then by Japan.
A Japanese cabinet member called the report “speculation among speculations,” Reuters reported.
“I generally hear such discussion as each country may provide bilateral loans to the IMF,” the official said, asking to remain anonymous. He added, “I’m not aware of any concrete talks taking place as to whether, when and how much of such contribution would be made as there’s no substance to how the IMF would support Europe.”
The Nikkei had said that the 20 countries were planning to put together the lending facility, intended to help euro zone countries in need of assistance, and that key G20 nations like Japan, the U.S. and China would contribute to the facility.