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NEWS - Japan Considering Giving Mor
- Subject: NEWS - Japan Considering Giving Mor
- From: Rangoonp@xxxxxxx
- Date: Tue, 27 Jul 1999 20:28:00
Subject: NEWS - Japan Considering Giving More Aid to Asia
Japan Considering Giving More Aid to Asia
Reuters
27-JUL-99
SINGAPORE, July 27 (Reuters) - Japan will send a
fact-finding mission to six Asian countries to see how it
can
help economic recovery by adding to an $80 billion aid
package already promised, its foreign minister said on
Tuesday.
"The mission will visit six east Asian states from late
August
to early September," Masahiko Komura told a meeting of
foreign ministers from Southeast Asia, the United States,
China, Russia, the European Union, South Korea and other
nations.
He said the mission would visit South Korea, Thailand and
Indonesia, the three nations hit hardest since the Asian
financial crisis began in 1997. It would then go to
Malaysia,
the Philippines and Vietnam.
Singapore told the meeting of the Association of South
East
Asian Nations (ASEAN) foreign ministers and key global
powers that despite signs of recovery, the region was not
yet
out of the woods.
Foreign Minister S. Jayakumar said many Asian reform
programmes still needed to run their course.
"Our determination to stay the course and guard against
complacency will be the clearest demonstration of our
resolve to strengthen our economic structure and
institutions," he said.
Komura said Japan's mission would seek to "understand
what approaches Japan and the Asian countries should take
to ensure a fundamental recovery of the Asian economies
and sustainable development."
He did not say how much additional aid was being
considered.
Komura said about $68 billion of the $80 billion aid
package
had been disbursed. He did not detail plans for the
remainder.
The foreign minister said strengthening the global
financial
system was an "urgent issue" as enormous flows of capital
on a global scale were a significant element in the Asian
crisis.
He said in light of this development, "Japan is focusing
its
efforts on the further internationalisation of the yen."
U.S. Secretary of State Madeleine Albright told the
meeting
Japan had an enormous role to play and that Washington
supported Tokyo's efforts to restore domestic demand-led
growth.
Myanmar foreign minister Win Aung said it was a crucial
time
for ASEAN to rebuild its economy.