July 7, 2020 / 11:37 AM / a month ago

Japan to name international policy veteran Okamura as new FX czar - Kyodo

TOKYO, July 7 (Reuters) - Japan’s government will name Kenji Okamura as vice finance minister for international affairs, its top financial diplomat whose duties would include arranging any currency interventions, Kyodo news agency reported on Tuesday.

Okamura, currently international bureau chief at the Ministry of Finance, will take over from Yoshiki Takeuchi, as part of an annual mid-year personnel reshuffle in July, Kyodo said, without citing sources.

Okamura, an international policy veteran, will represent Japan at forums like the Group of Seven advanced countries and the Group of 20 major economies, at a time when close cooperation with other nations is needed to cope with the coronavirus pandemic.

Japan has not intervened in the currency market since the aftermath of the 2011 earthquake and nuclear crisis, although authorities tend to verbally intervene to stem spikes in the yen that risk hurting the export-reliant economy.

The government is also set to appoint Mitsuru Ota as administrative vice minister - the top bureaucrat at the finance ministry - to replace Shigeaki Okamoto who is retiring, Kyodo added. (Reporting by Tetsushi Kajimoto; Editing by Bernadette Baum)

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