Tuesday September 1, 03:43 AM
Japan's finance minister to skip G20 meeting
TOKYO (AFP) - Japan's outgoing Finance Minister Kaoru Yosano said Tuesday he would skip the Group of 20 finance ministers' meeting in London this weekend due to health reasons.
The 71-year-old cancer survivor said his doctor had advised against his participation in the meeting. Senior Vice Finance Minister Wataru Takeshita will attend instead.
The two-day meeting, which begins Friday, aims to lay the ground for a summit of the Group of 20 biggest economies later this month. It will discuss financial regulation, including the contentious issue of bankers' bonuses.
Yosano was beaten in his Tokyo constituency Sunday by a candidate from the Democratic Party, which won a landslide victory over the long-ruling conservative party on a platform of reducing wealth inequalities.
Yosano was allocated a parliamentary seat through the proportional representation system.
Until July he had been juggling three cabinet posts -- finance, economic policy and financial services -- after Shoichi Nakagawa quit as finance chief in February over his apparently drunken behaviour at G7 talks in Rome.
-- Dow Jones Newswires contributed to this story --
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