The President of the World Bank, Robert S. McNamara arrived in Japan on Tuesday (6?
The President of the World Bank, Robert S. McNamara arrived in Japan on Tuesday (6 June) for a four-day visit as a guest of the Foreign Ministry.
SYNOPSIS: During his stay in Japan, Mr. McNamara, who stopped in Tokyo on his way to Malaysia, will be received in audience by Emperor Hirohito. He will also meet within Prime Minister Takeo Kukuda and Bank of Japan Governor Teiichiro Morinaga. He was greeted by the Japanese Finance Minister Tatsuo Murayama, to begin talks on economic aid and other financial topics.
The talks are taking place at the same time as the dollar has made a significant rally against the Yen in Active Trading on the Tokyo Foreign Exchange Market. Last Monday (29 May) the U.S. currency had slipped to it's post-war low of 218 Yen. Japan's record trade surplus in 1977 was a major factor behind the dollar's recent troubles. It led to intense international pressure on Japan to cut exports and boost imports order to help world economic recovery. These are topics which will be discussed in the talks between Mr. McNamara and the Japanese Ministers.