Japan’s virus-hit economy ‘too weak’ for new PM’s reforms plans

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Thu, 2020-09-17 00:30

TOKYO: Japan’s new leader Yoshihide Suga will struggle to push through structural reforms as they would be too painful for an economy hit by the coronavirus crisis, said an executive of PIMCO, one of the world’s largest investment firms.

Tomoya Masanao, head of the Pacific Investment Management Co’s (PIMCO) Japan arm, also said the Bank of Japan’s ultra-loose monetary policy will allow the government to continue ramping up spending, but not without huge costs.

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