Obuchi gives assurances on Japanese economy

Obuchi gives assurances on Japanese economy

MANILA (AP): Japan's prime minister-in-waiting, Keizo Obuchi,
gave repeated assurances in meetings yesterday with the United
States and Asian countries that he would act decisively to
revitalize its economy.

"I can and I will act. I will act promptly," a senior U.S.
official quoted Obuchi as telling U.S. Secretary of State
Madeleine Albright shortly after both arrived for the Association
of Southeast Asian Nations Regional Forum. "Several times he
indicated his determination to revitalize the Japanese economy"
through tax cuts, elimination of bad bank loans and additional
budget expenditures, said the U.S. official, speaking on
condition of anonymity.

The U.S.-Japanese meeting was added to the schedule at the
last minute after Obuchi, Japan's foreign minister, was elected
last Friday as leader of the ruling Liberal Democratic Party, a
post that virtually guarantees he will become prime minister this
week.

Obuchi, 61, is not known as a forceful politician, and
financial market observers are fearful he will not be able to
fulfill his pledges.

During the meeting with Albright, Obuchi was described by the
senior U.S. official as "going out of his way to say he will be
very decisive and dynamic in dealing with the economic problems."

Albright also told Obuchi that U.S. President Bill Clinton was
looking forward to meeting him in the near future, the official
said.

On the flight from Tokyo to Manila, Obuchi told reporters that
during his visit of less than 12 hours, "I want to communicate
strongly my ideas for revitalizing the domestic economy and
making a contribution to Asia."

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