November 25, 2019 / 6:56 AM / 18 days ago

IMF's Georgieva calls for gradual, further rise in Japan sales tax rate

FILE PHOTO: International Monetary Fund (IMF) Managing Director Kristalina Georgieva speaks during a meeting with Chinese President Xi Jinping (not pictured) at the Great Hall of the People in Beijing, China November 22, 2019. REUTERS/Jason Lee/Pool

TOKYO (Reuters) - International Monetary Fund Managing Director Kristalina Georgieva said on Monday a gradual, further increase in Japan’s consumption tax rate could help the country pay for the rising cost of funding a rapidly ageing population.

“We think there is more space - not immediately but over time - for Japan to rely more on the consumption tax” in funding the cost of an ageing population, Georgieva told a news conference in Tokyo after the IMF’s Article 4 policy consultation.

Reporting by Leika Kihara; Editing by Tom Hogue

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