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Sovereign Wealth Funds Briefing - Categorized | Financials, Market

Kan’s cabinet approves $62 bln stimulus to protect recovery

Posted on 08 October 2010

From Bloomberg: Prime Minister Naoto Kan’s cabinet endorsed a 5.1 trillion yen ($62 billion) stimulus plan for Japan. While the plan emphasizes using the stronger currency to support overseas projects, it doesn’t propose the creation of a sovereign wealth fund, mentioned in a ruling party draft submitted to the government two days ago.
The Ministry of Finance is opposed to the idea of using Japan’s $1.1 trillion in foreign exchange reserves as a source of capital for such a fund, the Nikkei newspaper said today, citing unidentified ministry officials……………………………………….Full Article: Source


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