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IMF chief tells Japan to draft real reforms

JIJI

International Monetary Fund Managing Director Christine Lagarde on Thursday called on Japan to reduce public debt and carry out structural reforms.

The Bank of Japan’s new monetary easing policy launched earlier this month is “a positive step,” Lagarde told a news conference ahead of a series of international meetings there, including two days of talks from Thursday among finance ministers and central bank heads from the Group of 20 advanced and emerging economies.

But the step “is not enough,” she said, adding, “Japan needs more ambitious plans to bring down debt, plus structural reforms to shift the economy into higher gear.”