Japan confident that the G7 will seek to strengthen cooperation against pandemic

Japan hopes that the videoconference that the G7 leaders will hold in the coming hours will strengthen global cooperation to deal globally with the coronavirus pandemic that has affected more than a hundred countries.

This was highlighted by the Japanese cabinet spokesman minister, Yoshihide Suga, referring to the remote summit that the G7 will hold from 14:00 GMT on Monday and which was convened last Friday.

“Japan hopes to actively contribute to this conversation to curb the impact (of the coronavirus) on the world economy and strengthen global cooperation,” said Suga.

He also noted that the video conference will allow Japanese Prime Minister Shinzo Abe to explain to other G7 leaders the measures taken by Japan to fight the pandemic, one of the first countries to be affected after it erupted in China.

Japan recorded the first case of infection with the new coronavirus on January 16. About 1,500 people have been infected and 31 have died in the country due to the pandemic, including the cases detected in the “Diamond Princess” cruise ship, which moored in early February in the port of Yokohama.

To coincide with the G7 videoconference, the Bank of Japan (BoJ) held a regular meeting on monetary policy for today that it was to hold on Wednesday and Thursday of this week, also to analyze measures related to the pandemic.

In this regard, Suga stressed that it is “extremely important” that measures be applied to stabilize financial markets due to the turbulence that is being generated by the economic impact of the pandemic.

The urgent BoJ meeting was convened after the United States Federal Reserve (Fed) announced a cut in the benchmark interest rates by one percentage point, down to the 0-0.25% range.

Japan has kept its benchmark interest rate negative since 2016. at -0.1%, as part of the monetary stimulus measures approved by the BoJ to boost the Japanese economy.

The Fed’s decision has not had a special impact on the Tokyo Stock Exchange, although the stock market is moving with great volatility. On reaching the noon break, the Nikkei recorded a 0.11% advance.


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