Japan will explain the outcome of drastic fiscal expansion to G-20 partners

TOKYO: Japan will seek to assure its Group of 20 (G-20) partners that its push to reflate the economy with aggressive monetary expansion will benefit other nations and outweigh any possible negative effects, the country's top financial diplomat said.

Takehiko Nakao, vice-finance minister for international affairs, was speaking a day after Japan and other Group of Seven (G-7) rich nations declared that fiscal and monetary policies would not be directed at devaluing currencies and reaffirmed a commitment to market-determined exchange rates.