Friday, March 11, 2005

Japan Considers Diversifying Foreign Reserves

"Japan should in general consider the necessity of
diversifying the investment of its foreign reserves", Japan's Prime Minister
Junichiro Koizumi said.

"I think it's necessary to diversify the investment destinations" of
foreign reserves, at the same time, we have to make a judgment in general, considering what's profitable and what's stable" Koizumi said.

Japan's has the worlds largest reserve assests with $840.6 billion, U.S. Dollars accounted for 63.8% of those reserves at the end of 2003, down from 66.9% in 2001. The government projects that unrealized losses in its foreign reserve holdings will reach about 11.4 trillion yen ($110 billion) by March 31.

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