Japan Nominates Vice Finance Minister to Replace Kuroda at ADB

March 7, 2013 Share Print 0

Japan has nominated Takehiko Nakao, its deputy finance minister for international affairs, to become president of the Asian Development Bank.

The Finance Ministry proposed that Nakao succeed current ADB president Haruhiko Kuroda, who has been nominated to become Japan’s next central bank governor and resigned as ADB president effective March 18.

Japan nominates the president of the Manila, Philippines-based regional lender due to its status as the ADB’s biggest donor. Kuroda’s planned departure has raised speculation that China might seek a chance to lead the bank.

via Mainichi

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.