Japan’s finance minister Kaoru Yosano on Monday said the government will sell Y10.8 trillion ($110bn) of additional new bonds this fiscal year to pay for Prime Minister Taro Aso’s record stimulus package, reports Bloomberg. The extra debt sale will bring Tokyo’s new bond sales for this fiscal year to a record Y44.1 trillion. Of the additional issuance, Y7.3 trillion will be in construction bonds, with Y3.5 trillion in deficit-covering bonds.

This entry was posted by Gwen Robinson on Tuesday, April 21st, 2009 at 5:01 and is filed under Capital markets, People. Edit this entry.