IMF mission in Tokyo

An International Monetary Fund mission will be in Tokyo during Feb 6-13 in light of economic challenges that immensely affect the Japanese economy.

In a statement, Anoop Singh, director of the IMF Asia and Pacific Department, said that the staff will discuss with the Japanese authorities, private sector participants, and academics a number of important challenges and opportunities facing the Japanese economy.

The mission will especially discuss near-term risks, including from the ongoing crisis in Europe, and the volatile currency markets, where the Japanese yen appreciated significantly. The mission will seek to assess their impact on the Japanese economy and policy options to mitigate these risks. In particular, IMF staff will examine potential further steps to combat deflation and raise potential growth, through monetary policy as well as comprehensive structural reforms. In that context, the staff will also focus its discussions on the government’s plans to reduce the public debt burden over the medium-term through reforms of both the tax system and entitlement and other spending programmes.

"Finally, the mission will discuss with the authorities our joint efforts in planning the 2012 IMF-World Bank Annual Meetings set for Tokyo in October," he said.