Japan Leverages 80 Tons of Gold to Help Fund Part of Its Stimulus Package
Japan’s finance ministry has reportedly leveraged 80 tons of gold to help fund part of its huge stimulus package aimed at combating the coronavirus crisis. The Asian country, which is saddled with public debt twice the size of its economy, is under pressure to find non-tax revenues to cover the rising cost of spending to deal with the health crisis. The Covid-19-induced recession has seen Japan’s tax revenues drop, leaving a significant hole in its budget. According to a report, before this “rare arrangement,” Japan’s finance ministry would normally....
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