Japan: 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Japan

Volume/Issue: Volume 2022 Issue 099

Publication date: April 2022

ISBN: 9798400206542

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Topics covered in this book

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Money and Monetary Policy , International - Economics , Environmental Economics , money market rate , article IV consultation discussion , free-floating exchange rate regime , financial support , headline CPI inflation , SDR million , Climate finance , COVID-19 , Climate change , Credit , Global , Asia and Pacific , Europe

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Summary

Pre-COVID-19, economic policies under “Abenomics” helped ease financial conditions, exit deflation, and raise labor market participation, but fell short on the deep reforms needed to raise productivity and achieve inclusive and sustainable growth. The Japanese economy is now recovering from the pandemic amid strong policy support that has helped to mitigate the downturn. Japan had substantially lower rates of COVID-related infections and deaths than most advanced economies.