Japan’s Aso says must keep issuing deficit-covering bonds until 2025

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FILE PHOTO: Japan Finance Minister Taro Aso speaks at a news conference in Tokyo, Japan, September 16, 2020. REUTERS/Kim Kyung-Hoon
FILE PHOTO: Japan Finance Minister Taro Aso speaks at a news conference in Tokyo, Japan, September 16, 2020. REUTERS/Kim Kyung-Hoon

TOKYO (Reuters) - Japan’s current fiscal situation means the country will likely be forced to keep issuing deficit-covering bonds at least until 2025, Finance Minister Taro Aso said on Wednesday.

“It’s true Japan has been able to issue massive bonds stably at low cost. Markets are calm now, but there is no guarantee it will stay that way in the future,” Aso told parliament.

“Fiscal sustainability is very important for Japan” given its huge public debt, he added.

(Reporting by Leika Kihara; Editing by Chang-Ran Kim)

Reuters