ID :
178513
Thu, 04/28/2011 - 10:20
Auther :

GOVT TO SUSPEND SAMURAI BOND ISSUANCE

Jakarta, April 28 (ANTARA) - Finance Minister Agus Martowardojo ensured that the government would not issue Yen-denominated (Samurai) bonds in 2011.

"We may not yet issue Samurai bonds to create a little space in 2011," Agus said here Thursday.

The delay was due to the Japanese condition which has not fully recovered from the tsunami and earthquake last March.

"We may consider the situation in Japan which needs lot of focus on the country`s situation, we understand the condition," said the minister.

On the Japanese declining debt rating from one rating agency Standard & Poor`s from AA-stable to AA-negative, the minister said it was fair, amid the crisis.

"We understand if they lower the rating, especially America which also changed," he said.

The economic impact of the earthquake and tsunami that struck Japan is worse than thought, the minister was quoted as saying on Tuesday (12 / 4).

Economic and Fiscal Policy Minister Kaoru Yosano said the affects of the disaster that struck the country last month will be felt widely.

"The blow to the economy is greater than expected," said Yosano, the Nikkei business daily reported.

Damage ranges widely from the tsunami stricken the region that has sophisticated manufacturing and primary industries. "I think the blow to the economy is greater than we thought," Yosano said.

Yosano`s comments came a day after the International Monetary Fund lowered the growth forecast for Japan, 2011, citing "great uncertainty" that hung over a month over the world`s third largest economy after a major earthquake.

(T.SYS/B/A050/F001)

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