Japan Has Time to Restore Fiscal Health, IMF Exec Says
A consumption tax cut should be avoided, and fiscal measures should be highly targeted, according to Nada Choueiri, deputy director of the IMF's Asia and Pacific Department.
Japan is unlikely to face an immediate crisis in terms of fiscal soundness due to the relatively long average maturity of outstanding Japanese government bonds, Choueiri said in an interview.
Japan is "overcoming deflation, and this is a positive thing,"
Choueiri urged Japan to leverage this time to formulate a concrete plan for fiscal consolidation, as Japanese long-term interest rates are rising with the country moving towards a more normalized situation.
Author's summary: IMF advises Japan to avoid consumption tax cuts.
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