IMF to Assess Yen in Japan Mission, Avoids Daily Currency Commentary

"We will actually be starting the Article IV Consultation mission with Japan next week," Julie Kozack, Director of the IMF's Communications Department, said at the Fund's press briefing.

"The Article IV mission will take place between January 22nd and February 6th," she said.

Kozack's remarks came after questions on the yen following the Bank of Japan's rate hike in December and a fresh bout of depreciation.

Responding, Kozack said: "We do, of course, cover, of course, as in any Article IV, we will provide a comprehensive assessment of Japan's economy."

She added: "But of course, you know, an exchange rate assessment, external assessment, is part of any Article IV assessment."

On recent currency movements, Kozack said: "What I can say right now is that, of course, we take note of the movements in the yen; we don't comment on day-to-day market movements."

She said the Japan mission "will, of course, cover the external sector assessment for Japan as part of the comprehensive overview of the economy and the policy actions that we would recommend to the Japanese authorities to help manage their overall economy."

The question also referenced recent remarks by US Treasury Secretary Scott Bessent following meetings with Japanese officials. Kozack did not comment on those specifics, but confirmed that the IMF's formal assessment would be addressed through the Article IV process.

Article IV consultations are the IMF's regular surveillance engagements with member countries, covering macroeconomic conditions, financial stability, and policy frameworks. For Japan, the yen's moves are closely watched by global markets because of the currency's role in trade, investment flows, and broader risk sentiment.

- IANS