Jiji press: IMF report cites concerns over Japan’s fiscal situation

• Jiji press reports that The International Monetary Fund has expressed concern about the fiscal situation in Japan
• Says “Simulations by the IMF “suggest that global output losses could reach 2 percent of GDP” if Japan is “exposed to a reconsideration of sovereign risk by investors and experiences a long-term interest rate jump of two percentage points”
• The IMF have called for a credible fiscal consolidation plan
• Says “The pickup in growth provided by short-term fiscal and monetary stimulus is expected to wind down after a year or so.”

ADDED – Here’s the Jiji report: IMF report cites concerns over Japan’s fiscal situation