Japan and China will hold talks over whether to increase their contributions to the International Monetary Fund (IMF), according to the Japanese finance minister.
Reuters reported Saturday that the finance minister, Jun Azumi, said the talks would be held in advance of the G20 finance leaders’ meeting in Washington this month. He made the announcement after meeting with Finance Minister Xie Xuren of China.
It is expected by the European Union that G20 officials will come to an agreement to increase contributions to the IMF now that it has been agreed to increase the capacity of the European bailout fund. However, Azumi said neither Japan nor China had yet decided whether to boost their own contributions to the IMF in the wake of the fund action.