Sakakibara survives finance ministry reshuffle

Eisuke Sakakibara, vice finance minister for international affairs, will keep his post despite a regular personnel reshuffle scheduled for July 1, a top ministry official said Wednesday.

Transferring Sakakibara, who has been dubbed "Mr. Yen" for his influence on the foreign exchange markets, would have an unpredictable impact on the yen-dollar rate at a time when it is dangerously unstable, due to uncertainties over Japan's economic recovery. Sakakibara chaired an emergency meeting here Saturday at which Group of Seven industrialized nations and Asian economies discussed the world economy in terms of the falling yen.

Koji Tanami, vice minister and No. 2 man after the minister, is also among senior officials who will not be transferred this time.