Japanese Finance Minister Quits

January 6th, 2010 No Commented

Categorized Under: Business

Japanese PM Yukio Hatoyama has been forced to replace his experienced finance minister, Hiroshisa Fujii, who has resigned due to ill dealth.

Naoto Kan has been chosen as the country’s new finance minister.

Mr Hatoyama had earlier said he did not want Mr Fujii, one of the few experienced ministers in his Democratic Party-led government, to stand down.

Mr Kan will inherit the job at a time when Japan faces deflation, a fragile economy and huge public debt.

The change of faces in such a key post is being seen as a severe test for Mr Hatoyama – who came into power in September after nearly 50 years of conservative rule and is already suffering from falling ratings.

Mr Fujii’s departure will add to uncertainty about the relatively inexperienced Hatoyama government’s ability to handle the country’s economy.

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