Statement by IMF Managing Director Dominique Strauss-Kahn at the Conclusion of his Visit to Japan

Press Release No. 10/09
January 18, 2010

Mr. Dominique Strauss-Kahn, Managing Director of the International Monetary Fund (IMF), issued the following statement today in Tokyo:

"It has been a great pleasure for me to have visited Japan. During this visit, I had the privilege of having valuable discussions with Prime Minister Yukio Hatoyama, Deputy Prime Minister and Finance Minister Naoto Kan, and Bank of Japan Governor Masaaki Shirakawa. This was my first opportunity to meet with the new government and I was pleased to hear about its plans for sustaining the domestic recovery and promoting growth over the medium term. I was also fortunate enough to visit Tokyo University for an open exchange of views with students and faculty.

"My discussions focused on prospects for the on-going global recovery. Aggressive and timely policy support has succeeded in averting a downturn of historic proportions. Like most advanced economies, the Japanese economy also appears to have turned the corner, owing in large part to the government’s decisive and prompt actions.

"However, in Japan and other industrial economies, the upturn is still sluggish, with private demand and labor markets weak. Looking ahead, ensuring that policies remain appropriately supportive will be key to securing the recovery.

"The Japanese government has recently outlined a new strategy for raising growth over the medium-term. This is very timely and should support efforts to rebalance the global economy. We welcome the emphasis being placed on fostering new demand opportunities and promoting regional economic integration, which will help Japan capitalize on the emergence of Asia as a key engine of global growth. Indeed, these are among the main themes that will be discussed at the IMF-Asia conference in Seoul this July. We look forward to Japan playing a pivotal role at the conference, which brings together key policymakers and leaders from the region to showcase Asia’s success in economic management and develop a shared vision for sustaining global growth.

"Finally, I would like to express my personal gratitude to Japan for its continued support of the IMF’s central role in the international system. In the period ahead, we will continue to benefit from Japan’s leadership in helping formulate policies to shepherd the global recovery and strengthen the international financial system."



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