08.10.2010 - Kanís cabinet approves $62 bln stimulus to protect recovery
From Bloomberg: Prime Minister Naoto Kanís 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 doesnít 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 Japanís $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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