Feeds

Japan to pay off bad debts

Will provide $43 billion extra to support Asia

  • alert
  • submit to reddit

Boost IT visibility and business value

A senior Japanese cabinet minister has outlined his government's plans to return to stability and to promote cooperation in the Far East. Hisamitsu Arai, vice minister for international affairs of the Japanese ministry of international trade and industry (MITI), outlined steps that he considered needed to be taken for the entire region to recover. He said that three challenges stricken countries had in common included economic structural reform, stronger Asian partnerships and international policy coordination. Arai said Japan was supporting Thailand and other ASEAN countries and was providing $43 billion in financial and capital support to promote liquidity and other reforms throughout the region. He claimed such measures were "critical" to relieve short term impacts which arose from the supply demand gap and credit crunch that was afflicting the area. He added that newly appointed cabinet of Japanese PM Keizo Obuchi was focusing on tax reform initiatives and unspecified "other measures" aimed at re-vitalising Japan's financial system. One reform mentioned was the settlement of bad loans, particularly in real estate. Last week, Japan came under criticism from the International Monetary Fund (IMF) for failing to react quickly enough to the crisis. Arai also said Japan will continue to cooperate with the IMF and also initiate a closer policy dialogue between his country and the United States. He claimed that Japan was determined to work with its Asian neighbours, including mainland China, to overcome "the pessimism and scepticism" directed at the region. ®

The Power of One Brief: Top reasons to choose HP BladeSystem

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
Philip K Dick 'Nazi alternate reality' story to be made into TV series
Amazon Studios, Ridley Scott firm to produce The Man in the High Castle
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Stick a 4K in them: Super high-res TVs are DONE
4,000 pixels is niche now... Don't say we didn't warn you
Bose says today is F*** With Dre Day: Beats sued in patent battle
Music gear giant seeks some of that sweet, sweet Apple pie
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Too many IT conferences to cover? MICROSOFT to the RESCUE!
Yet more word of cuts emerges from Redmond
Joe Average isn't worth $10 a year to Mark Zuckerberg
The Social Network deflates the PC resurgence with mobile-only usage prediction
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Securing Web Applications Made Simple and Scalable
Learn how automated security testing can provide a simple and scalable way to protect your web applications.