INTERVIEW-Japan to tell G20 its policies will help world economy
TOKYO, Feb 13 (Reuters) - Japan's top financial diplomat said on Wednesday that Tokyo will tell its Group of 20 peers its push to reflate the economy will benefit other nations, brushing aside some concerns about the possible negative impact of its monetary stimulus on emerging economies.
Takehiko Nakao, vice finance minister for international affairs, was speaking a day after Japan and other Group of Seven rich nations declared that fiscal and monetary policies would not be directed at devaluing currencies and reaffirmed commitment to market-determined exchange rates.
"Today we share the view that each country should put their house in order by pursuing appropriate monetary, fiscal and structural policies and that would be the best contribution to the global economy," Nakao told Reuters in an interview.
The G7 statement was seen as designed to calm fears that Tokyo was aiming to guide the yen lower with its aggressive monetary easing, which spurred market talk of looming currency wars if others were to do the same.
"There have always been some concerns expressed by emerging economies that there are some spillovers from advanced economies' policies, especially monetary policies," Nakao said when asked about the possibility of a debate on currencies at the G20 meeting in Moscow on Feb. 15-16.
"I'd like to stress that if advanced economies pursue appropriate monetary policies and if they do it for such purposes as boosting growth, stabilising the financial system and getting out of deflation, it itself should have a positive impact on other economies, including emerging economies."
(Editing by Neil Fullick)