February 23, 2018
Latest News

IMF urges Japan to speed up structural reform to push expansion

Tokyo, Jun 19 (efe-epa).- The International Monetary Fund Monday urged Japan to speed up structural reforms and to implement a more accommodative monetary policy to make the most of its current expansion.

IMF First Deputy Managing Director David Lipton made the comments during a press conference in Tokyo where he presented the IMF's annual Article 4 evaluation of Japan's economy.

"We feel the best policy is to make the most of positive (economic) momentum at present and to push ahead with needed reforms," Lipton said, according to a statement on the IMF website.

The IMF said the country's monetary policy should maintain a sustained accommodative stance and urged the Bank of Japan to carefully calibrate its yield curve policy, if downside risks materialized, and focus on capping long-term interest rates.

The financial organization also proposed measures such as phasing out references to its annual purchase targets of government bonds set at 80 trillion yen ($721 billion), among others, aimed at improving its credibility and investor confidence.

Japan's economic expansion has been at its best since 2006, with GDP growing between January and March for the fifth consecutive quarter, thanks to huge external demand.

However the IMF noted that labor shortages continue to plague the Asian country and that inflation remains moderate.

There are other significant challenges like "demographic headwinds and an unprecedented level of public debt", the Washington-based institution said.

The IMF expects Japan's growth to continue in 2017, but stressed it could weaken in 2018 "if fiscal stimulus fades as currently planned", adding that fiscal stimulus could support growth through "higher consumption and investment".

Prime Minister Shinzo Abe's government is seeking to promote a series of labor reforms, including curbing excessive overtime hours and discrimination between regular and non-regular workers, part of the prime minister's "Abenomics" economic policies.

"Since its inception in 2012, Abenomics has proven successful in easing financial conditions, increasing corporate profits, and boosting employment and female labor force participation," the IMF said.

News history
US to impose new, large package of sanctions on North Korea

National Harbor, Maryland, Feb 23 (efe-epa).- The president of the United States will announce a new, large package of economic sanctions Friday on North...

RBS snaps losing streak, but US settlement looms

Madrid (Spain) Feb 23, 2018 (efe-epa). The Royal Bank of Scotland Group PLC released its fourth-quarter and 2017 results on Friday, according to a report...

EU leaders arrive in Brussels for informal summit on post-Brexit budget

Brussels, Feb 23 (efe-epa).- European Union heads of state and government met in Brussels on Friday for an informal summit in which they are to examine a...

Japan, Chile pledge to push for early implementation of new TPP

Tokyo, Feb 23 (efe-epa).- Japan and Chile Friday pledged to push for an early implementation of the new Trans-Pacific Partnership Agreement, without the...

Head of Russian aluminum giant RUSAL removed amid corruption accusations

Moscow, Feb 23 (efe-epa).- A Russian tycoon who was recently accused of corruption by the country's opposition leader is set to leave the presidency of the...

China regulator takes over Waldorf Astoria owner Anbang Insurance

Beijing, Feb 23 (efe-epa).- China's insurance regulator announced Friday it will take control of Anbang Insurance, one of the country's main insurers in the...

Japan's CPI rises 0.9 percent in January for 13th consecutive month

Tokyo, Feb 23 (EFE).- Japan's consumer price index rose 0.9 percent in January year-on-year, the 13th straight increase, due in large part to higher energy...

Colombian coffee region invests $6.9 mn to boost tourism

Bogota, Feb 22 (efe-epa).- Colombia's main coffee-growing region, the central province of Risaralda, has invested close to 20 billion pesos ($6.9 million)...

OPEC crude basket declines to $62.50

Vienna, Feb 22 (EFE).- The basket of crude oil used as a benchmark indicator by the Organization of Petroleum Exporting Countries fell to $62.50, the OPEC...

Japan detected 669 cases of money laundering via cryptocurrencies in 2017

Tokyo, Feb 22 (efe-epa).- Japan's digital currency exchanges detected 669 cases of money laundering via cryptocurrencies between April and December 2017,...

China rules out possibilty of arson in Jokhang temple fire

Beijing, Feb 22 (efe-epa).- An investigation into a fire at Lhasa's Jokhang Temple, one of the most renowned temples in Tibetan Buddhism, has ruled out...

AI robot Sophia to make LatAm debut in Mexico

Mexico City, Feb 21 (efe-epa).- Sophia, a robot equipped with artificial intelligence that enables it to respond to questions, will make her Latin American...

Colombian teachers mount 1-day strike

Bogota, Feb 21 (efe-epa).- Thousands of Colombian public school teachers launched a 24-hour national walkout on Wednesday demanding that the government...

Mercosur, EU resume trade-deal discussions in Paraguay

Asuncion, Feb 21 (efe-epa).- Representatives from South America's Mercosur bloc and the European Union began a new round of free-trade negotiations here...

Air France warns of possible flight disruptions due to planned strike

Paris, Feb 21 (efe-epa).- France's national carrier asked its clients on Wednesday to prepare for some disruption to its services due to planned industrial...

Eurogroup's Centeno backs ECB choice of Spain's De Guindos on track record

Brussels, Feb 21 (efe-epa).- The president of the Eurogroup defended Wednesday the appointment of Spain's economy minister as vice president of the European...

Greenpeace urges Shell to accept its role in climate disasters

Manila, Feb 21 (efe-epa).- Dozens of Greenpeace activists on Wednesday entered a Shell refinery in the Philippines to demand the company cooperate with an...

396 Repatriated Filipino workers arrive home from Kuwait

Manila, Feb 21 (efe-epa).- Hundreds of Filipinos landed at Manila's international airport Wednesday after being repatriated from Kuwait where they had been...

OPEC crude basket declines to $62.81

Vienna, Feb 21 (efe-epa).- The basket of crude oil used as a benchmark indicator by the Organization of Petroleum Exporting Countries fell to $62.81, the...

Australia rejects ex-PM's call to cut annual immigration intake

Sydney, Australia, Feb 21 (efe-epa).- Australia's treasurer on Wednesday defended the annual permanent immigration intake in the country following a...

South Korea, Central American nations sign free trade agreement

Seoul, Feb 21 (efe-epa).- South Korea Wednesday signed a free trade deal with Panama, Honduras, Nicaragua, El Salvador and Costa Rica, the Asian country's...

Make transactions with cryptocurrencies, Maduro orders state entities

Caracas, Feb 20 (efe-epa).- The president of Venezuela on Tuesday issued an order to the state-owned oil company Petroleos de Venezuela (PDVSA) to conduct...

Home Depot's profit rises 8.5 pct. to $8.63 bn in 2017

New York, Feb 20 (efe-epa).- Home Depot, the largest home improvement retailer in the world, said Tuesday that it posted net income of $8.63 billion in...

Spanish government calls for common sense: 5G phone technology no health risk

Segovia, 20 Feb (epa-efe).- The next generation of cellphone technology, labeled G5, is set to offer greater problem-solving capacity as well as major...

I agree Welcome to news4europe.eu. We use cookies to improve your online experience. Find out more.