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MOF says eyes shorter JGBs to offset tax shortfall

Sun Nov 15, 2009 11:36pm EST

TOKYO, Nov 16 (Reuters) - Japan is likely to rely more on short-term debt issuance later this fiscal year to offset a tax revenue shortfall, a Ministry of Finance (MOF) official said on Monday.

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Masaaki Kaizuka, director of debt management for the Ministry of Finance, told a Europlace forum that the MOF may lean more towards short-term Japanese government bond issuance rather than longer-term bonds as there was not much time left until the end of the current fiscal year.

"Because the remaining period to the end of the fiscal year is very short, we are inclined more to the short end of the curve," Kaizuka said. (Reporting by Masayuki Kitano)

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