Economy: Shinzo Abe

Shinzo Abe: The assessment, in a report released Monday, said the near-term outlook of the world's third-largest economy "has improved considerably" thanks to monetary easing and increased government spending under Prime Minister Shinzo Abe's administration, according to CTV. The IMF's report, based on a consultation with the Abe government last month, echoes earlier comments by the World Bank's lending arm on the "Abenomics" strategy of breaking out of a long spell of debilitating deflation by flooding the economy with money. At Abe's behest, Japan's central bank is striving to generate 2 per cent inflation within the next two years and TOKYO -- The International Monetary Fund said Japan's economy is recovering from years of stagnation, but that far-reaching reforms and a "credible plan" are needed to reduce its debt mountain and sustain growth in the long run. It forecasts that Japan's economy will grow 2 per cent in 2013, helped by stronger demand at home and overseas, but will expand only 1.2 per cent in 2014 as consumers tighten their belts following an expected increase in sales tax. (www.immigrantscanada.com). As reported in the news.