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UPDATE 1-Japan wants to convey stance on strong yen at G20 -Azumi
September 20, 2011 / 3:15 AM / 6 years ago

UPDATE 1-Japan wants to convey stance on strong yen at G20 -Azumi

 * Japan economy at standstill on strong yen - Azumi
 * Says G20 to debate response to Europe debt woes

 (Adds quote, details)	
 By Leika Kihara	
 TOKYO, Sept 20 (Reuters) - Japan hopes to explain its stance
on the strong yen and how it is hurting the country's economy at
this week's Group of 20 finance leaders' gathering, Finance
Minister Jun Azumi said on Tuesday.	
 Azumi also said that he wants to hear from his European
counterparts how they plan to deal with the region's debt
problem, which he said will be discussed at the G20 meeting.	
 "If not for the yen rises, Japan's economy would have
expanded more," Azumi told a news conference after a cabinet
meeting.	
 "There's a feeling Japan's economy is at a standstill, so I
would like to explain our stance (on the strong yen) when I meet
senior officials from around the world," he said.	
 	
 Azumi and Bank of Japan Governor Masaaki Shirakawa are
expected to attend the meeting of G20 finance leaders on
Thursday in Washington to discuss global economic developments,
followed by meetings of the International Monetary Fund and
World Bank that extend into the weekend.	
 Japan intervened unilaterally in the currency market and the
BOJ eased monetary policy last month in a joint attempt to stem
sharp rises in the yen that threatened to derail a fragile
economic recovery.	
 It has held off from stepping into the currency market since
then but Japanese policymakers have persisted with verbal
warnings to the markets against pushing the yen up too far,
helping to keep the Japanese currency below a record high hit
against the dollar in August.	
 The government also unveiled an outline of measures to help
ease the pain to the economy from the strong yen, focusing on
expanding programmes to support employment. 	
	
 (Additional reporting by Tetsushi Kajimoto; Editing by Edmund
Klamann)	
 

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