The ruling Liberal Democratic Party on Monday finalized details of its financial stabilization package, featuring 10 trillion yen in government bonds for Deposit Insurance Corp. to help recapitalize troubled financial institutions.
The package, which was drawn up by a task force headed by former Prime Minister Kiichi Miyazawa, is to be formally approved today.
Prime Minister Ryutaro Hashimoto, speaking to reporters accompanying him on his trip to Kuala Lumpur, said the government would strongly push for implementation of the LDP package. He emphasized that the measures do not run counter to the government's fiscal reform efforts.
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