Japan’s Katayama: Debt expansion is global trend, fiscal policy targeting growth and sustainability

Japanese Finance Minister (FM) Satsuki Katayama said on Tuesday that debt growth is global trend, Japan outlines fiscal policy targeting growth and sustainability. Katayama added that US Treasury Secretary Bessent referenced US strategies to manage debt. 

Key quotes

G20 addressed global imbalances, emerging market debt, financial literacy. 

Debt growth is global trend, Japan outlines fiscal policy targeting growth and sustainability. 

Bessent referenced U.S. strategies to manage debt. 

Spoke with JPMorgan's dimon, who commended japan's recent reform. 

Told G20 US-Japan currency intervention aligned with G7 pledge. 

No comment on specific FX levels. 

G20 meeting was valuable chance to deepen understanding of joint FX intervention. 

Bessent has said since October last year that a new approach is needed if Japan's deflation outlook has shifted

Bessent says aiming for higher growth potential and productivity through domestic investment is right. 

Won’t comment on specific levels after question on benchmark JGB yield reaching 3%. 

Interest rates set by markets based on various factors.