TOKYO: Japanese Finance Minister Taro Aso said on Monday he and US Treasury Secretary Janet Yellen agreed in phone talks that the highest priority was to get their economies out of the current crisis through bold fiscal measures.

Speaking after his first talks with Yellen since she became the new US Treasury Secretary, Aso said they had also agreed that it was important to hold close discussions on foreign exchange rates.

“We reaffirmed that it’s important to maintain G7 (Group of Seven) as well as G20 (Group of 20) agreements of up until now,” Aso told reporters after the talks, which came as both countries continue their battle to cushion the economic blow from the COVID-19 pandemic.

During the call, Aso also brought up that Japan wants to move forward with international discussions aimed at reaching a global taxation agreement, he said.