TOKYO, July 15: Japanese Finance Minister Hiroshi Mitsuzuka said on Tuesday his ministry would support the Thai baht in co-operation with the IMF `if needed.' ``I am aware of the reports that Thailand will seek financial support from the IMF, and we will handle the situation in co-operation with the IMF if needed,'' said Mitsuzuka.

He said the Finance ministry would `closely' monitor foreign exchange trading in the expectation that volatility in the Baht would eventually settle. Mitsuzuka said he welcomed Thailand's decision to move to a managed float on July 2, adding that `we are analysing trading, in expectations that trading in the Baht will settle down eventually following Thailand's move.'

Thai Finance Minister Thanong Bidaya is expected in Tokyo later in the week to explain to Japanese bankers and monetary authorities what they are prepared to offer in return for a $ 20 billion stabilisation fund.

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