Japan’s government named Yasushi Manago to be the finance ministry’s top official as part of its annual personnel reshuffle, Finance Minister Jun Azumi said.
Manago, chief of the ministry’s budget bureau, will lead bureaucrats as the government doubles the sales tax to 10 percent to slow the expansion of the world’s largest public debt. The tax hike was approved by the parliament this month.
Takehiko Nakao, the ministry’s top currency official, will stay in the position and continue to oversee the country’s foreign-exchange policy. Tatsuo Yamasaki, deputy head of the international bureau, will be promoted to bureau chief and support Nakao. Yamasaki was director of the ministry’s currency market division from 2002 to 2004, when authorities sold 39 trillion yen.
Mitsuhiro Furusawa, who had been dispatched to the International Monetary Fund, will head the ministry’s financial bureau, which supervises the country’s debt issuance. Yasushi Kinoshita will lead the budget bureau and Kazuho Tanaka will head the tax bureau.
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