• Kyodo

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The International Monetary Fund urged Japan on Wednesday to go ahead with a planned hike in consumption tax next April in order to secure funds for further economic stimulus.

In the semiannual Fiscal Monitor report, the Washington-based lender called for an increase in the consumption tax by 2 percentage points to 10 percent, a plan analysts say can convince other economies that Japan is committed to reducing its snowballing national debt and restoring fiscal health.

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