ROME (MktNews) - Japanese Finance Minister Masajuro Shiokawa said Saturday that his country would "take all steps," including monetary easing, to prevent the economy from contracting in 2001.
"We are willing to take all steps necessary to avoid negative growth" in 2001, Shiokawa said at a news conference following the G7 finance minister's meeting here.
Shiokawa said he had explained to his G-7 counterparts that his country's economic and fiscal reform plan as outlined in recent weeks would be implemented from this fall.
"But if it turns out that the downturn is more severe (than expected) then of course the government will take every measure to tide over the situation, which would include further easing of monetary policy and directing public works to create employment," Shiokawa said.
"We'll have to watch how the situation evolves," he added.