Lagarde seeking Japan's IMF contribution

The head of the International Monetary Fund has expressed the hope that Japan will contribute to strengthening the fund's capital base when it becomes necessary.

Amid growing concerns over Italy's fiscal problems, voices are growing that the IMF should increase its capital and be prepared to help larger economies.

IMF Managing Director Christine Lagarde told reporters in Tokyo on Saturday that she expects Japan to contribute when additional funding becomes necessary.

Lagarde added that the market expects Italy to stabilize its domestic politics and to regain credibility.

She said transparency will increase and the situation will improve if Italy implements its fiscal reform plan fully, quickly and appropriately, indicating the IMF's willingness to be actively involved in the country's fiscal reconstruction.

Saturday, November 12, 2011 16:36 +0900 (JST)