"Abenomics" has brought positive results, but challenges remain as to whether Prime Minister Shinzo Abe can implement structural reform to bring about sustainable growth, the International Monetary Fund said Tuesday in its first preliminary assessment of his economic policies.
"The policy actions taken so far — including monetary and fiscal stimulus and the decision to participate in TPP negotiations — have put Japan at the center of the global economic map," Anoop Singh, director of the IMF's Asia-Pacific department, said during a seminar in Tokyo. "There are signs Abenomics is benefiting not only Japan but also the region, but success is not guaranteed."
The seminar was held to evaluate the so-called three arrows in Abe's quiver — aggressive monetary policies, flexible fiscal spending, and growth strategies — almost one year since the inception of Abenomics. The economic measures are aimed at bringing Japan out of 15 years of deflation.