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Japan PM to reshuffle staff, focus on banking, yen
Tokyo, Sept 21: Japanese Prime Minister Junichiro Koizumi, fresh from victory in a vote for ruling party chief, was expected to begin revealing decisions about party and cabinet posts today that will set the tone for economic reform.
Tokyo, Sept 21: Japanese Prime Minister Junichiro Koizumi, fresh from victory in a vote for ruling party chief, was expected to begin revealing decisions about party and cabinet posts today that will set the tone for economic reform.
With the Liberal Democratic Party (LDP) race yesterday won by a
wide margin, odds were that Koizumi would reject demands by the
party's old guards to sack his reformist financial services and
economics minister Heizo Takenaka and controversial LDP secretary
general Taku Yamasaki.
A renewed focus was on the finance minister's post in the wake of the yen's rise to 2- year highs against the dollar last week and criticism among Group of Seven (G7) economic powers about Japan's market intervention to beat down the yen.
Koizumi was due to announce a new LDP leadership team today, with the spotlight on whether he retains Yamasaki, who is a crucial political ally but who has lost popularity in some quarters.
A cabinet reshuffle was expected to follow on Monday.
''Given the margin of victory, I would expect Koizumi to stick to his plans. It would be highly unusual to replace the secretary general so close to a general election,'' political commentator Takao Iwami told.
Koizmi won 399 of 657 votes up for grabs in the LDP race, allowing him to keep the premiership and lead his three-party coalition into a general election as early as November.
Bureau Report
A renewed focus was on the finance minister's post in the wake of the yen's rise to 2- year highs against the dollar last week and criticism among Group of Seven (G7) economic powers about Japan's market intervention to beat down the yen.
Koizumi was due to announce a new LDP leadership team today, with the spotlight on whether he retains Yamasaki, who is a crucial political ally but who has lost popularity in some quarters.
A cabinet reshuffle was expected to follow on Monday.
''Given the margin of victory, I would expect Koizumi to stick to his plans. It would be highly unusual to replace the secretary general so close to a general election,'' political commentator Takao Iwami told.
Koizmi won 399 of 657 votes up for grabs in the LDP race, allowing him to keep the premiership and lead his three-party coalition into a general election as early as November.
Bureau Report