The Japan Financial Services Agency published an English summary of a press conference by Japan’s Minister of Finance and Minister for Special Missions of the Cabinet Office, covering discussions at International Monetary and Financial Committee meetings and related G7 and G20 engagements. The minister highlighted stablecoins as a key topic, saying yen-denominated stablecoins in Japan are moving toward practical use and indicating that issuances by three mega banks are likely in 2027, while calling for internationally consistent regulatory and supervisory frameworks for stablecoins that circulate across multiple jurisdictions, including to support cross-border remittances. The summary also covers remarks on rising global economic uncertainty linked to the Middle East and an appeal for countries to refrain from “unreasonable” export restrictions on rare earths and other products, alongside a welcome for the International Monetary Fund’s analysis of the macroeconomic impact of rare earth export controls. Separately, the minister reported on a G7 outreach meeting on critical minerals co-chaired with France’s finance minister and the World Bank President, where participants discussed strengthening supply chains and the role of multilateral development banks, referencing the World Bank’s RISE partnership and the need to diversify supply chains away from concentration risks. In Q&A, he noted that even if a ceasefire led to freer passage through the Strait of Hormuz, risks could persist and normalization could take longer, potentially keeping risk premia elevated.

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