09 Feb '11, 4am

Japan's debt, fiscal deficit not sustainable: IMF: Japan's outstanding debt and fiscal deficit "are not sustaina...

TOKYO (AFP) - – Japan's outstanding debt and fiscal deficit "are not sustainable", the IMF warned on Wednesday, adding that Tokyo must tackle the issues if it wants to avoid future trouble. The comments by IMF deputy managing director Naoyuki Shinohara come weeks after Standard & Poor's lowered the country's credit rating and accused the government of not having a clear plan to ease the debt mountain. "If you look at Japan's outstanding debts and fiscal deficits, I think they are not sustainable over the medium- and long-term," Shinohara told reporters on the sidelines of a seminar in Tokyo. "If (Japan) leaves the fiscal situation as it is, it could leave the source of trouble for the future," he said. "It is important to make a national consensus at the earliest possible time and form a concrete agreement on how to achieve fiscal rehabilitation." He added, however that "w...

Full article: http://sg.news.yahoo.com/afp/20110209/tbs-japan-economy-d...

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