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Japan's national debt 'unsustainable under current policies': IMF

  • The IMF has warned that by 2030 Japan’s debt will become triple the size of its economy — if the government does not act immediately to control spending. The country’s debt is already around 245% of its annual GDP that is over $11 trillion.

    In a report, the IMF described the debt as “unsustainable under current policies”, saying that the world’s third largest economy needed a plan for “medium-term fiscal consolidation”. The Japanese government should strike a balance between debt reduction and growth, it said.

     

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    Tagged as: IMF, Japan debt, Japanese economy, fiscal consolidation, Japanese government, debt reduction, business news