Friday, November 18, 2011

RH - Japan & IMG gold sales, tracking the past

3 x on one old IMF decision:

III International Monetary Fund (IMF) gold sales

Q: Could you say what the Japanese position is on gold sales -- the IMF gold sales?

Spokesman for the Delegation of Japan Hiroshi Hashimoto: This is going to be discussed under the framework of the G-7 Finance Ministers Meeting. I hope you will be patient until the end of the meeting.

Q: What is your stance?

Spokesman for the Delegation of Japan Hiroshi Hashimoto: This matter is what the Japanese Finance Minister will discuss with his colleagues, and I cannot tell you before the Finance Minister speaks with his colleagues. But, in any case, talks have been going on and I am not sure whether this time the G-7 ministers will issue a joint declaration on this subject or not, but I hope you will be patient and wait and see.


IV International Monetary Fund (IMF) gold sales
Q: My second question. I just wanted to clarify this one. I am going to change topics unless you want to come back on the same area. My second question concerns the Japanese position finally on whether the gold sales by the IMF should or should not have been included? As I understand it, they are not to be included in the communique. Where does Japan stand on that issue?
A: The Summiteers have formally adopted the Economic Declaration. It will be released soon at 15:00. Prime Minister Hashimoto did not speak on this subject; however, there is a clause in reference to this. So, would you please wait another five minutes or so and you will know what it is.


IX Possible IMF gold sales
Q: Earlier today, Chancellor Kohl of Germany said that Japan had moved closer to Germany's position on IMF gold sales -- namely one of stated opposition. Could you comment on that please?
A: Are you talking about the Morning Session of the Summiteers?
Q: Yes.
A: I understand that, in the Morning Session, they talked about --. If I remember rightly, Prime Minister Hashimoto did not touch on that subject this morning. Or what I can tell you is --.
Q: Perhaps the question is where does Japan stand on that issue at this point?
A: I do not have the notes of the Morning Session, because I have already relayed the points of the Morning Session. I explained to the journalists who came to my morning briefing that Prime Minister Hashimoto touched on several subjects; but this gold sales was not included. Therefore, I cannot say whether what you said is correct or not. Regardless, what I can say is that we made a consensus about the phrase in this regard. That one is included in the Economic Declaration. In any case, we understand that the IMF is going to study and finalize its proposal at this coming September meeting.


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