Japan's High Debt Not A Problem Short-Term: IMF |
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January 11, 2009
Japan's public debt is very high but is not a serious problem in the short-term as private savings are abundant and investors continue to buy government bonds, a senior International Monetary Fund official told the Nikkei newspaper.
Japan's public debt is very high but is not a serious problem in the short-term as private savings are abundant and investors continue to buy government bonds, a senior International Monetary Fund official told the Nikkei newspaper. What is important is for the government, upon an economic recovery, to trim debt and improve the country's finances through spending cuts and tax reforms, IMF First Deputy Managing Director John Lipsky said in an interview that ran on Saturday. Japan's public debt is approaching 200 percent of GDP, the highest among developed nations, keeping bond investors nervous.
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