Japan's finance minister has welcomed Greece's acceptance of austerity measures. He says the next challenge will involve ramping up the emergency lending capacity of the International Monetary Fund.

Jun Azumi told reporters on Friday that the IMF will likely consider how it can help contain credit concerns, by watching how talks proceed within the European Union.

He said Japan would like to cooperate in a practical manner, after hearing the intentions of the United States, China and other countries.

The finance ministers and central bank governors of the Group of 20 nations will meet in late February.

A key issue will be how countries outside Europe can contribute to the IMF, to strengthen its capacity to provide emergency funding to stem the credit turmoil.

News credit: http://www3.nhk.or.jp/daily/english/20120210_25.html

Image credit: http://upload.wikimedia.org/wikipedia/commons/9/99/IMF_HQ.jpg