The President of the ADB, favorite to become Governor of the Bank of Japan

Tokyo, 23 feb (EFE).-the President of the Asian Bank of development (ADB), Haruhiko Kuroda, is the favorite candidate to become the next Governor of the Bank of Japan (BOJ), according to Japanese media suggest today.

The candidate, who will be proposed the coming week by the Japanese Prime Minister, Shinzo Abe, would replace Masaaki Shirakawa, who announced recently leaving his position as head of the central bank on March 19, a few days before the expiry of its mandate on April 8.

Kuroda, for 68 years, has positioned itself as the most likely choice of the Japanese Conservative Government, which must get its proposal of Governor of the BOJ for five years to be endorsed by both chambers of Parliament.

During a briefing after his meeting yesterday in Washington with us President Barack Obama, Japanese Prime Minister said that his intention was to present its candidate to the BOXWOOD at the beginning of the coming week.

The current President of the ADB, based in Manila, has been in Office for eight years and was from 1999 to 2003 Vice-Minister of finance, responsible for International Affairs and foreign-exchange policy.

Kuroda is known for his defense of the aggressive policies of monetary expansion to cope with chronic deflation in the Japanese economy, in line with the strategy adopted by the new Japanese Government.

Abe, which came to power last December, has always advocated for the BOJ a more aggressive monetary easing policy to stimulate the economy and a more ambitious inflationary target.

The rifts of the Prime Minister with the current Governor of the central bank, which he described as little realistic measures, motivated all analysts its early withdrawal from an institution which ran since 2008.