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. Last Updated: 07/27/2016

Japan Offers 'Mr Yen'




TOKYO -- The Japanese government, signaling its desire for a greater say in international financial affairs, is ready to promote former top financial diplomat Eisuke Sakakibara for the job of head of the International Monetary Fund, officials said Tuesday.


The job of IMF managing director has traditionally always gone to a European, and Japanese officials admit that Sakakibara, known as "Mr Yen" for the influence he wielded over the currency markets, may have only a slim chance of winning.


However, by taking the unprecedented step of putting forward a candidate to succeed Michel Camdessus, Japan is letting it be known that it wants a louder voice in the running of the Fund, befitting its status as the second largest shareholder after the United States.


"I haven't received any official request from the government," Sakakibara said Tuesday, "so I can't comment at this point whether or not I will accept a request if actually offered."