Abe Seen Facing $54 Billion Pension Fund Loss After Election
- Annual loss seen by SMBC Nikko as worst since financial crisis
- Government detailed plans Tuesday to speed up budget spending
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Japan’s government will escape a piece of bad news until after a summer election.
The $1.3 trillion Government Pension Investment Fund will on July 29 announce what may be its worst annual loss since the global financial crisis -- about three weeks later than usual and after an upper house poll that must be held before July 25. SMBC Nikko Securities Inc. estimates the decline for the fiscal year ended March at as much as 6 trillion yen ($54 billion).