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The Ministry of Finance plans to scale back authorities bond gross sales to ¥190 trillion ($1.44 trillion) within the fiscal yr starting April 1, with cuts within the quantity of short-term debt offered, in accordance with a draft of the plan.
That quantity compares with the present yr’s ¥198.6 trillion, when additional Japanese authorities bonds (JGB) have been offered to fund efforts to deal with an financial downturn triggered by the COVID-19 pandemic.
A number of rounds of heavy fiscal stimulus to answer the fallout of pandemic pushed up JGB market issuance to a file ¥221.4 trillion within the final fiscal yr ended March 31.
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