Prime Minister Keizo Obuchi met with U.S. President Bill Clinton on Friday and pledged to bring about positive economic growth in fiscal 1999, stabilize the nation's fragile financial system and quickly implement 24 trillion yen in stimulus measures.
Clinton endorsed Obuchi's strategy for pulling Japan out of its longest recession since World War II but also urged Japan to take further measures, such as deregulating its economy and opening its markets.
The two leaders also discussed their shared concerns over North Korea's suspected construction of an underground nuclear facility and reaffirmed their intention to promote cooperation among Japan, the United States and South Korea over security.