Japan's Currency Diplomat Kanda Stresses Importance of Fiscal Responsibility
Japan's Currency Diplomat Kanda on Fiscal Responsibility
In a recent development, Japan's top currency diplomat, Kanda, emphasized the critical nature of responsible fiscal management for achieving a primary budget balance by FY2025/26. This move is aimed at ensuring Japan's financial stability amidst escalating global challenges, particularly from the global South.
Challenges in the International Global Order
Kanda highlighted the looming challenges facing the international global order and stressed the importance of a prudent approach to fiscal policies.
He also pointed out the necessity of preparing for a potentially higher interest rate environment, with projected rates revised upwards to 1.9% from 1.1%.
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