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Japan can pay for rebuild states central bank chief

Japan can pay for rebuild states central bank chief

Submitted By: 15 April 2011 No Comment

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Japan’s economy suffered a big blow in the triple earthquake, tsunami and nuclear disaster, but the country should have no problem financing reconstruction, the central bank chief said.

Bank of Japan Governor Masaaki Shirakawa conceded problems in the economic supply chain, power generation, tourism and other important sectors.

But he said the financial system could cope.

"As long as Japan continues to work tirelessly towards rebuilding it is unlikely that financing problems will arise," he said in a speech at the Council on Foreign Relations in New York.

Shirakawa said the three-pronged disaster struck "at a time when Japan’s economy was gradually returning" to strength. He said the disruption mean "it is inevitable" that production and supply will suffer.

Read the rest of the story: Japan can pay for rebuild: central bank governor.

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