Shigeru Ishiba, Japan’s incoming Prime Minister, is poised to form his new government this week, and a key appointment has been revealed. According to sources with direct knowledge of the matter, Ishiba is likely to name Takeshi Iwaya, a former Defence Minister, as his Foreign Minister. Iwaya, who held the Defence portfolio from 2018 to 2019, played a strategic role in Ishiba’s successful campaign to lead the ruling Liberal Democratic Party (LDP).
The selection of Iwaya for the crucial Foreign Minister post highlights the potential for a shift in Japan’s foreign policy under Ishiba’s leadership. Iwaya is known for his strong stance on national security issues and his close ties to the military.
In addition to the Foreign Minister appointment, Ishiba is considering former Prime Minister Yoshihide Suga for the position of LDP Vice President. This move could further solidify Ishiba’s position within the party and ensure smooth leadership transition.
Ishiba’s cabinet plans are starting to take shape. He is expected to appoint Katsunobu Kato as Finance Minister, a position that carries significant weight in Japan’s economic policymaking. Yoshimasa Hayashi, the incumbent Chief Cabinet Secretary, is also likely to remain in his role, which includes the responsibility of acting as the government’s top spokesperson.
While Ishiba has declined to formally announce his cabinet lineup, he did hint at the possibility of a snap election in the near future during a televised interview. This signals a potential shift in political strategy and underscores the uncertainty surrounding Japan’s upcoming electoral landscape.
Regarding economic policy, Ishiba has indicated his intention to maintain an accommodative monetary policy, emphasizing the need to keep interest rates low to support Japan’s fragile economic recovery. This stance suggests a more dovish approach than his past criticisms of the Bank of Japan’s aggressive monetary easing, signaling a potential shift in his economic priorities.
