IMF backs Japan’s ’Abenomics’, but warns of risks

The International Monetary Fund on Friday gave a cautious thumbs up to Japan’s economy-boosting efforts, but warned there are “considerable downside risks” if Tokyo doesn’t chop its huge national debt.

The Washington-based IMF, which expects the world’s third-largest economy to grow 1.6 per cent this year, said Prime Minister Shinzo Abe and his hand-picked team at the Bank of Japan were on the right track in their bid -- dubbed “Abenomics” -- to reverse years of falling prices.

via Business feed http://www.scmp.com/business/economy/article/1250447/imf-backs-japans-abenomics-warns-risks