The BoJ echoes the uncertainty of the pandemic after IMF pessimism

The Governor of the Bank of Japan (BoJ), Haruhiko Kuroda, echoed Wednesday the concern of the International Monetary Fund (IMF) about global financial health and agreed on the great uncertainty about the coronavirus pandemic.

“It is very uncertain when the pandemic will begin to subside, so we have to continue to closely monitor its economic effects,” Kuroda said during a press conference after the IMF predicted in its forecasts the worst global recession since the Great Depression of the United States. 1930s and even worse than the 2008 crisis.

According to IMF estimates, the world economy will fall by 3% in 2020, weighed down by a contraction of GDP of 5.9% in the United States, 7.5% in the euro area and 5.2% in Japan.

The governor of the Japanese central bank said that the confinements and restrictions on economic activity adopted by more and more countries are putting increasing pressure, and noted that the entity will not hesitate to deepen its flexibility measures depending on how it affects the pandemic. to the national economy.

Kuroda is confident, however, in IMF forecasts that the coronavirus pandemic will subside gradually in the second half of the year and that the economy will channel the good pace by the end of the year.

Japanese Vice Prime Minister and Finance Minister Taro Aso agreed on the need to monitor the evolution of the situation.

Aso added that the development of a SARS-CoV-2 coronavirus vaccine is a time trial and that his government should offer the necessary support to create one as soon as possible, according to statements collected by the Japanese public network NHK.


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