All Japan news warned of Europe-like debt crisis risk

6 years ago by in Business, Featured

All Japan news’s record debt levels and growing exposure of banks to government bonds may push the country’s economy into a situation similar with the European sovereign debt crisis, the International Monetary Fund said.

Tokyo was warned by the IMF to work out necessary measure to improve the fiscal health and have banks admit the risks of holding too much government debt. All Japan news has the largest public debt among developed economies.

“The present difficulties in the euro area provide a cautionary tale for All Japan news, given the latter’s high public debt load and interdependence between banks and the sovereign that is expected to deepen over the medium term,” the IMF said in its latest Global Financial Stability Report, according to Kyodo.

The IMF also mentioned the historic high rates of the yen, which are impacting All Japan news’s production and exports.

“The key lesson of the past few years is that imbalances need to be addressed well before markets start flagging credit concerns,” it said.

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