Go Finance Reporting in TOKYO - Japan's economic newspaper, Nihon Keizai Shimbun said the government estimates that economic losses from Japan's earthquake and tsunami could exceed USD300 billion.
Reporting from the Associated Press on Wednesday (03/23/2011), the paper said, Economics Minister Kaoru Yosano will be presenting or proposing a fund of 15 trillion yen to 25 trillion yen (USD185 billion to USD300 billion) at the Cabinet meeting this Wednesday.
As is known, an earthquake measuring 9.0 on the Richter Scale rocked Japan on 11 March, then followed by a tsunami that destroyed the northeast coast of Japan, triggering damage to the reactor nuclear power plant.
The aftermath of the Japanese government to inject funds into the financial system after the fall of the stock in the first two days earlier in the week last March.
A total of 6 trillion yen (USD76 billion), or Rp684 trillion issued bringing the total funds disbursed to stabilize the financial system reached 34 trillion yen. Flushing of funds from the Bank of Japan (BoJ) was also triggered by the strengthening yen has surged through the highest level since the Second World War.
Then the Bank of Japan (BoJ) was also re-pumped 3 trillion yan (USD37 billion) to calm the financial markets are rocked by major earthquakes, tsunamis, and nuclear emergency in Japan.
On Friday, March 18, this step raised a total injection of funds in the money market in the short run since Monday to reach 37 trillion yen. Following its earlier promise to provide funds in large numbers after the disaster. (GoFinance)
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