Japanese Finance Minister Yoshihiko Noda said on Friday he cannot attend a G20 seminar on reshaping the global monetary system being held in China this month.
His comment comes as Tokyo is struggling to pass bills to implement a $1 trillion budget for the year from April in a hung parliament.
The gathering in Nanjing on March 31, to be hosted by China and G20 chair France, expected to include academics, economists, central bankers and finance ministers. German Finance Minister Wolfgang Schaeuble confirmed his participation this week.
Paris has placed discussion of how to reform the international monetary system at the centre of its year-long presidency of the G20, and China's position will be key for how much progress France can make on its goals.
Noda said Japan will send its top currency diplomat Rintaro Tamaki to the G20 seminar in his place.
"It will be at the fiscal year end. I would like to go but I think it's difficult given my current duty," Noda told reporters.
French President Nicolas Sarkozy, who is chairing the G20 this year, has said he intends to travel to Nanjing to attend the conference. France will also send Finance Minister Christine Lagarde and central bank Governor Christian Noyer to the one-day meeting, French officials said.
At a G20 summit in Paris last month, China was reluctant to include exchange rates and currency reserves in a list of indicators to be used to gauge imbalances, making a hard-fought compromise necessary for finance ministers to eventually reach a deal.
Source: http://www.reuters.com/
His comment comes as Tokyo is struggling to pass bills to implement a $1 trillion budget for the year from April in a hung parliament.
The gathering in Nanjing on March 31, to be hosted by China and G20 chair France, expected to include academics, economists, central bankers and finance ministers. German Finance Minister Wolfgang Schaeuble confirmed his participation this week.
Paris has placed discussion of how to reform the international monetary system at the centre of its year-long presidency of the G20, and China's position will be key for how much progress France can make on its goals.
Noda said Japan will send its top currency diplomat Rintaro Tamaki to the G20 seminar in his place.
"It will be at the fiscal year end. I would like to go but I think it's difficult given my current duty," Noda told reporters.
French President Nicolas Sarkozy, who is chairing the G20 this year, has said he intends to travel to Nanjing to attend the conference. France will also send Finance Minister Christine Lagarde and central bank Governor Christian Noyer to the one-day meeting, French officials said.
At a G20 summit in Paris last month, China was reluctant to include exchange rates and currency reserves in a list of indicators to be used to gauge imbalances, making a hard-fought compromise necessary for finance ministers to eventually reach a deal.
Source: http://www.reuters.com/
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