Japan urges G20 cooperation to ease geopolitical risks

By Leika Kihara WASHINGTON (Reuters) - Japan urged G20 countries to work closely together to alleviate geo-political uncertainties over Ukraine that may hurt global growth, Finance Minister Taro Aso said on Thursday. Speaking to reporters after a G20 dinner session, Aso said he told counterparts that Japan welcomed efforts by the International Monetary Fund to quickly offer aid to Ukraine. "I said we welcome and endorse IMF efforts to offer assistance to Ukraine swiftly, given geopolitical uncertainties may have a negative impact on the global economy," Aso said, adding that he felt other countries agreed to his view. "I said it's necessary for the G20 to work closely together to alleviate uncertainty," he said, adding that Japan was ready to offer 1.5 billion dollars in bilateral aid to Ukraine. On Japan's economy, Aso said he explained to G20 members that business confidence has improved markedly and companies were gradually raising wages, reflecting improvements in the economy. "We're about to see the kind of wage increases never seen lately. I told the G20 I welcome such moves because they help ease the impact from the sales tax hike," he said. Japan raised the sales tax to 8 percent from 5 percent on April 1 as part of efforts to rein in its huge public debt. (Reporting by Leika Kihara; Editing by Dominic Lau, Richard Pullin and Eric Meijer)