Japan's Edano: Must make efforts on fiscal reform

Tue May 31, 2011 3:58am EDT

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TOKYO, March 31 (Reuters) - Japan's top government spokesman said on Tuesday that the government needs to make efforts on fiscal reform, although he would not comment on a private sector ratings agency's decisions, after Moody's Investors Service said it may downgrade Japan's sovereign debt ratings.

"I think we need to promote our fiscal consolidation efforts given our extremely severe fiscal condition," Edano told a news conference.

Moody's on Tuesday placed Japan's sovereign debt ratings on review for possible downgrade, citing concerns about faltering economic growth prospects and a weak policy response to the country's mounting public debt. [ID:nL3E7GV0BP] (Reporting by Yoko Nishikawa and Kaori Kaneko; Editing by Edmund Klamann)

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