Japan and South Korea have decided to extend their currency swap, Japan's finance minister told a press conference on October 16. The minister said the extension was settled in bilateral talks with South Korea's new finance minister, who is also deputy prime minister, during the trip to Bangkok for the G20 and G7 finance ministers and central bank governors meetings.
The Ministry of Finance summary gives no size, duration or implementation date for the extension, and it does not say which swap arrangement is covered.
Less final elsewhere
The India outcome was softer. The minister said the two sides had "almost agreed" to raise their talks to a formal bilateral dialogue between finance ministers. The minister added that Indonesia also wants such a format.
The minister also met the finance ministers of Thailand and Indonesia. Thailand's finance minister is due to visit in November leading an investment committee, and the minister said Japan wants to respond as fully as it can.
Markets and the broader agenda
Asked about volatility in stocks, currencies and bonds, the minister said the need to watch markets with a high degree of tension had been stressed repeatedly. The minister declined to give details of the G20 exchange-rate discussions.
The minister also said the chairmanship of the World Bank-IMF Development Committee is now held by Japan, the first Japanese to hold it, and described the post as one that brings more information and a larger Japanese presence.