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TOKYO (Kyodo) — Japanese Finance Minister Katsunobu Kato said Friday he will not attend a meeting of finance chiefs from the Group of 20 major and emerging economies in South Africa next week so he can focus on parliamentary deliberations on the budget to ensure it is enacted before the start of the next fiscal year.
Hiroaki Saito, senior vice finance minister, will instead join the gathering to be held for two days from Wednesday in the coastal city of Cape Town, Kato said in a news conference.
Bank of Japan Governor Kazuo Ueda said Thursday he plans to take part in the event involving the grouping’s finance ministers and central bank governors.
Touching on growing global economic uncertainty, Kato said, “Discussions on international cooperation at the G20 meeting are crucial and Japan is committed to contributing” to the discussions.
Prime Minister Shigeru Ishiba’s minority government is striving to secure parliamentary approval for the budget plan before the new fiscal year begins in April, which means it would have to clear the House of Representatives by March 2.
Among Kato’s counterparts, U.S. Treasury Secretary Scott Bessent said in a local media interview Thursday that he will also skip the G20 meeting.
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