Govt to nominate Tanami as next Bank of Japan governor
The government has chosen another nominee for the next Bank of Japan governor in an effort to end the deadlock over the selection after the opposition voted down the initial pick.
By Agencies |
TOKYO: The government has chosen another nominee for the next Bank of Japan governor in an effort to end the deadlock over the selection after the opposition voted down the initial pick.
But a senior opposition legislator said he was opposed to the nomination of Koji Tanami, 68, governor of Japan Bank for International Cooperation. And a former vice finance minister noted that Tanami was a former Finance Ministry bureaucrat and may endanger the autonomy of the Bank of Japan the same reason the government's first pick was voted down.
"It would be hard to find any reasons to support him," opposition lawmaker Kenji Yamaoka said on nationally televised news.
The confrontation has brewed for weeks, and Japan's inability to come up with a new central bank governor has been a major embarrassment. The world's second largest economy is in danger of slipping into a recession after six years of moderate growth, battered by the plunging dollar, volatile stock markets and soaring oil prices.
"We have always said that we are opposed to having a vacuum," in the post of Bank of Japan governor, chief government spokesman Nobutaka Machimura told reporters. "We believe our proposal will be accepted."
The term of Bank of Japan Gov Toshihiko Fukui ends tomorrow.
The opposition, which controls the upper house, blocked the appointment of the initial nominee Bank of Japan Deputy Gov Toshiro Muto, in a parliamentary vote last week. The opposition said Muto was too politically connected as a former Finance Ministry bureaucrat.
But a senior opposition legislator said he was opposed to the nomination of Koji Tanami, 68, governor of Japan Bank for International Cooperation. And a former vice finance minister noted that Tanami was a former Finance Ministry bureaucrat and may endanger the autonomy of the Bank of Japan the same reason the government's first pick was voted down.
"It would be hard to find any reasons to support him," opposition lawmaker Kenji Yamaoka said on nationally televised news.
The confrontation has brewed for weeks, and Japan's inability to come up with a new central bank governor has been a major embarrassment. The world's second largest economy is in danger of slipping into a recession after six years of moderate growth, battered by the plunging dollar, volatile stock markets and soaring oil prices.
"We have always said that we are opposed to having a vacuum," in the post of Bank of Japan governor, chief government spokesman Nobutaka Machimura told reporters. "We believe our proposal will be accepted."
The term of Bank of Japan Gov Toshihiko Fukui ends tomorrow.
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The opposition, which controls the upper house, blocked the appointment of the initial nominee Bank of Japan Deputy Gov Toshiro Muto, in a parliamentary vote last week. The opposition said Muto was too politically connected as a former Finance Ministry bureaucrat.
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