IMF likely to reach $400 billion firewall target: Japan
The IMF looks set to receive the $400 billion it needs to boost a global firewall and help stem Europe's debt crisis, Japan's finance minister said.
"I think it is becoming highly possible that we will achieve a sum near the targeted $400 billion," Jun Azumi told reporters in Washington, in footage broadcast in Japan on Friday.
"I think this will give relief and stability to the global economy," he added.
Azumi was speaking after the first day of a two-day meeting of finance ministers and central bank chiefs of the world's 20 largest economies.
Japan made a $60 billion pledge earlier this week, which was followed by promises from the EU, Sweden, Denmark and Poland, among others, taking the fund to 80 percent of the target.
But all eyes at the IMF headquarters were on whether the BRICS economies seeking greater say in the running of the IMF -- Brazil, Russia, India, China and South Africa -- would meet the balance.
China, the world's largest economy, has kept quiet on the issue, and many of the BRICS have voiced concern that their funds could be used to add to already huge bailouts under way in Europe.
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