The Strategist

Japan's Minister of Economy Resigns After Corruption Charges

01/28/2016 - 15:40

Akira Amari, Japanese minister of economic recovery in Japan and its chief negotiator on the Trans-Pacific Partnership (TTP), the large-scale project of a free trade area in the Asia-Pacific region, resigned after accusations of bribery. Pleaded guilty, the minister said that "any threat to a strong economy must be removed," and "he is not an exception."

World Economic Forum
World Economic Forum
Appointed Minister of economic recovery in Japan in 2012, Akira Amari resigned because of corruption allegations. The former minister himself has denied the alleged bribery, noting that his staff received the money as a "political donation" from a construction company. Nevertheless, he acknowledged that "the money was not properly registered," and he takes the responsibility for this mistake by his decision to leave.

According to The Japan Times, the resignation of Mr. Amari was a serious blow to the country's prime minister Shinzo Abe. Akira Amari was a member of the inner circle of the Japanese prime minister and was the top performer of the Japanese economy’s course of recovery. According to the ex-minister, "the Japanese economy is finally coming out of deflation." According to him, "it is necessary to adopt a law to finally defeat deflation and to create a strong economy as soon as possible ", and "any obstacle to this, including myself, must be eliminated."

Interestingly, signing the agreement on the TTP is scheduled for the next week in New Zealand. Akira Amari was supposed to lead the delegation of Japan. Now, his place will be taken by the former Environment Minister Nobuteru Ishihara.