WASHINGTON (CNNMoney) -- The International Monetary Fund said Thursday that Japan has the financial means to get through this disaster and get on the road to reconstruction and growth.
The IMF, which helps poorer nations get through similar disasters, is watching the situation closely, spokeswoman Caroline Atkinson said in a briefing Thursday. But she added that, so far, IMF leaders believe Japan has taken appropriate steps.
"We do believe that what the Japanese government has been doing on the monetary side to ensure stability of their financial system and doing what is necessary to meet the needs of the people of this crisis is the appropriate policy," she said.
On Monday, the Bank of Japan injected $180 billion into its financial system to shore up the economy to weather the lasting effects of the earthquake, tsunami and possible nuclear disaster.
In the short term, Japan needs to focus on search and rescue, humanitarian and infrastructure demands, the IMF spokesman said. And the IMF considers Japan on strong footing to handle that without financial help.
"It's a strong and wealthy society, and the government has the full financial resources to address those needs," Atkinson said.
Once it gets through the crisis, Japan should see a bump in its growth, as it starts the rebuilding process.
"The most important thing for fiscal space going forward is to revive the Japanese economy and get growth," Atkinson said.
She said that IMF will be releasing new estimates of the Japanese economy and the impact of the disaster on the world economy on April 11.
|Overnight Avg Rate||Latest||Change||Last Week|
|30 yr fixed||3.64%||3.64%|
|15 yr fixed||2.76%||2.76%|
|30 yr refi||3.66%||3.69%|
|15 yr refi||2.79%||2.81%|
Today's featured rates:
Jean-Claude Decaux, the French businessman who produced the first automatic public toilets, died at the age of 78. More
The FBI has opened a national security investigation into the hacking of Bangladesh's central bank amid signs that the hack might have come from North Korea. More
In 1998, Ntsiki Biyela won a scholarship to study wine making. Now she's about to launch her own brand. More
The gender pay gap in the labor market is pretty well documented. But the gender gap also exists in the housing market. More