Wednesday, December 12, 2012
$60 Billion for IMF/Third-Class Politicians Only Provide Third-Rate Policy-XXII
“Europe’s sovereign debt crisis has clearly eased from last year’s critical situation following the region’s policy efforts, but we can’t be optimistic about the situation at all … It’s important to strengthen the IMF’s financial resources to ensure the crisis is contained, and this is important not only for the euro region abut also for Asia as well as Japan,” stated by Finance Minister Azumi Jun (Japan Times, 18 April 2012).
Japan pledged to provide $60 billion to the IMF
at the semiannual meetings of the IMF and World Bank in from April 20-22. Washington has been in
trouble with its economy since 1989 and in debt over 200% of its GDP. One major
reason for Japan Japan’s pledging
$60 billion is that Japan
wants to become number one, against , which is the world’s largest
holder of foreign exchange reserves. By now, China Japan
is the largest donor, overtaking the . However, United States
has not asked to increase its voting rate in IMF.