September 18, 2019 / 6:43 AM / a month ago

Japan nominates ex-MOF currency tsar Asakawa as next ADB chief

TOKYO (Reuters) - Japanese Finance Minister Taro Aso said on Wednesday that Japan will nominate Masatsugu Asakawa, former vice finance minister for international affairs, as “the most qualified candidate” to become the new president of the Asian Development Bank.

Aso made the announcement a day after incumbent Takehiko Nakao expressed his intention to step down as ADB chief on Jan. 16.

Since the ADB was founded, its top post has always been held by a person from Japan, making Asakawa a strong candidate to become president. Japan, along with the United States, is the bank’s biggest shareholder.

Reporting by Tetsushi Kajimoto; Editing by Richard Borsuk

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