New plan for central bank

Article Abstract:

Sweeping changes are planned for the Bank of Japan to provide the central bank with more independence from the finance ministry. Proposed changes include increasing the central bank's policy board to nine members, 3 of whom coming from the central bank staff and six others who would be appointed by the government. Ministry of Finance and Economic Planning Agency representatives are no longer allowed during policy meetings unless demanded by the finance minister. A sensitive issue in the changes is the provision that allows the finance minister to veto the central bank's budget.

Central Bank & Govt Reserves, Japan, Central banks, Monetary policy, Bank of Japan

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Tapping the Japanese aid font: foreign businesses get a shot at Tokyo-funded projects

Article Abstract:

Foreign participation in Japan's $11 billion-a-year foreign aid program has steadily increased in the 1990s following growing pressure to open the program to international bidding. The rising yen has also made third-country contract bids for Japanese-funded projects more attractive to foreign businesses. Despite the Japanese government's efforts to open the projects to international competition, Japanese firms still dominate the lists of contractors to projects funded by Japanese aid.

Public works, Contracts, Economic assistance, Foreign economic assistance

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Incomplete data on Jusen offend Japanese public

Article Abstract:

The Japanese Ministry of Finance has continued to maintain its silence on the identities of the people responsible for the country's bad-loan crisis. This has further infuriated the Japanese public, which has already been critical of the government's plan to use over $6 billion in public money to help liquidate seven home-mortgage companies, locally known as 'jusen.' Borrowers have defaulted on more than six trillion yen in loans from the seven jusen.

Finance, Bad debts, Japan. Ministry of Finance

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