Japan is reportedly on the verge of pumping about $ 128 billion into the economy to stem the corona crisis. That money is part of Japanese Prime Minister Shinzo Abe’s earlier pledge to come up with a “huge” economic stimulus plan.
According to insiders, Japan is about to issue bonds that partly cover expenditure on incentive plans. “We have to come up with big, strong economic and fiscal measures that will absorb the enormous magnitude of the blow from the coronavirus outbreak,” Abe told parliament on Monday. He hinted at measures beyond the financial crisis that emerged in 2008 after the fall of the American bank Lehman Brothers.
The Bank of Japan is also said to be ready with additional stimulus measures, following an earlier package of measures announced. The measures should, among other things, prevent job losses and boost the economy.