Deputy Prime Minister, Finance Minister Alexei Kudrin
Photo: Dmitry Dukhanin
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Stab Fund Money to Be Injected in Japan
The money of investment basket of Russia’s National Welfare Fund could be used to buy stocks of Japan’s companies, Russia’s Deputy Prime Minister, Finance Minister Alexei Kudrin told the business media of Japan.
At the same time, Alexei Kudrin specified that Russia isn’t aimed at majority ownership in Japan’s companies. In each company, the share of stocks acquired by using the fund’s money wouldn’t exceed 5 percent, Kudrin said.
Russia’s National Welfare Fund emerged February 1, 2008 as a result of division of Stabilization Fund’s money. As of January 31, 2007, the fund had 782.8 billion rubles ($31.98 billion). The balance of foreign accounts amounted to $10.42 billion, ˆ12.73 billion and £1.39 billion.
Kudrin will arrive in Tokyo late this week, as the G7 financial summit opens there February 9. Russia’s minister will attend the meeting of financial ministers and Central Banks’ chiefs of Britain, Germany, Italy, the United States, Canada, France and Japan. The prime concern of that get-together will be elaborating the actions to overcome global financial aftereffects of the U.S. mortgage crisis.
www.kommersant.com
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