Finance Minister Hiroshi Mitsuzuka said Friday that a proposed fund to assist Asian economies in financial or currency crises should supplement the International Monetary Fund, indicating a shift in Japan’s position regarding the mechanism.

At a news conference, Mitsuzuka said discussions on the establishment of the facility, tentatively dubbed the Asian Monetary Fund, were making headway. The fund proposal came up in July during the baht crisis, Mitsuzuka noted. “And through close coordination, we would like to see it created as a supplementary organ to the IMF.”

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