New Japanese Prime Minister Calls General Election for October 27
Shigeru Ishiba, Japan’s incoming prime minister, announced plans for a general election on October 27, a year earlier than scheduled, to allow the new administration to be judged by the people promptly. Ishiba’s victory in the ruling Liberal Democratic Party’s leadership race led to a strengthened yen and government bonds, but Japanese shares saw a 4% decline in early trading.
Ishiba has begun selecting government officials for various roles, including his close ally Takeshi Iwaya as foreign minister and Gen Nakatani as Defence Minister. Despite criticism of former Prime Minister Shinzo Abe, Ishiba aims to restore public confidence in the ruling party, focusing on defense spending and strengthening ties with the US amidst threats from China and North Korea.
While some analysts question Ishiba’s economic growth strategy, he remains determined to address issues of low growth and fiscal health in Japan. With a promise of change and revitalization, Ishiba’s government prepares for the upcoming election.
Article by DW