'This is not a problem only for the Group of Eight countries,' Chief Cabinet Secretary Takeo Kawamura, the government's spokesman, told a news conference.

He said G8 countries were debating whether the summit would include only selected emerging powers such as Brazil, China and India or whether to invite a wide range of developing countries.

On Saturday, US President George W. Bush, French President Nicolas Sarkozy and European Commission President Jose Manuel Barroso agreed to hold a first summit in the United States 'soon after the US elections' on Nov 4.

Prime Minister Taro Aso, who has vowed to take a leadership role as chair of the G8, said he would make the summit his priority ahead of political developments at home.

Mr Aso has been under strenuous pressure from the opposition to dissolve the lower house of parliament for snap general elections.

'I will go to the financial summit for sure regardless of whether I dissolve the lower house by that time or not,' Mr Aso told reporters.

Recent media reports said some ruling party lawmakers were considering snap polls on Nov 30. The election must take place by Sept.

Mr Kawamura said Japan wanted to share its experience in recovering from the collapse of its financial system in the 1990s under a mountain of debt from bad loans.

'It is natural for Japan as the chair of the G8 to play a leading role in jointly tackling the crisis,' Mr Kawamura said. 'We can offer good suggestions and share Japan's experience with other countries.'

The G8 groups Britain, Canada, France, Germany, Italy, Japan, Russia and the US.

Japan invited leaders of 15 other nations for the last G8 summit held in Jul in the northern resort town of Toyako. The expanded G8 meetings included talks on African development and global warming.

But Japan, the only Asian nation in the G8, has opposed calls to permanently expand the elite club. -- AFP