IMF pressing Japan to introduce official incomes policy

Tokyo

THE International Monetary Fund (IMF) is urging Japan's government to get tough on the nation's corporate sector by introducing an official incomes policy to force up wages if the economy is to pull out of its prolonged economic stagnation.

The call is part of a wider call by the IMF for Prime Minister Shinzo Abe's government to "re-set or reload" its Abenomics policies and to set them within a longer and more-clearly defined framework. Otherwise, Abenomics might "deliver mediocre growth and low inflation".