JAPAN and other Asian nations agreed yesterday to stabilise their currencies to help achieve sustainable growth, Japanese Finance Minister Kiichi Miyazawa said.
Mr Miyazawa made the comments in Washington after meeting finance ministers and central bank governors from Indonesia, South Korea, Malaysia, the Philippines, Singapore and Thailand.
The cash-strapped Asian countries agreed they must take measures to stimulate their economies, and welcomed a US$30 billion (HK$232 billion) aid offer by Tokyo.
The officials are in Washington for next week's International Monetary Fund and World Bank meetings.
Mr Miyazawa's proposal was timed to coincide with yesterday's meeting of Group of Seven financial leaders. The G7 leaders have been pressuring Japan for months to do more to stimulate its economy to help lead Asia out of a year-long economic crisis.
'This fund is not only for the benefit of Japan's neighbours but also for our benefit,' Mr Miyazawa said.
