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Haruhiko KurodaGovernor of the Bank of Japan
Date of Birth: 25.10.1944
Country:  Japan |
Content:
Haruhiko Kuroda - Biography of a Japanese Banker
Haruhiko Kuroda is a Japanese banker and the 31st Governor of the Bank of Japan. He was born on October 25, 1944, in Omuta, Fukuoka, and graduated from the Law Faculty of the University of Tokyo in 1967. He also completed his studies at the School of Economics at the University of Oxford in 1971.
Early Career
Immediately after graduating from university in April 1967, Kuroda joined the Ministry of Finance in Japan. Each year, the ministry hires 20-25 graduates from the University of Tokyo, primarily from the law faculty, making the competition for these positions extremely fierce. Working at the Ministry of Finance is considered one of the most prestigious jobs in the country, with retirees often pursuing careers in top-level business or politics.
From 1975 to 1978, Kuroda, who had risen through several important hierarchical levels in the ministry starting as a clerk in the secretariat, went on an overseas assignment to work at the International Monetary Fund (IMF) in Washington, USA. He returned to Japan in the summer of 1978 and became the Deputy Director of the Tax Bureau. He then served in various roles, including the Ministry Secretary and Head of the International Organizations Division in the International Finance Bureau.
Leadership Roles
In 1992, Kuroda was appointed as the Deputy Vice Minister of Finance for International Affairs. He served as the Head of the Regional Taxation Bureau in Osaka from 1993 to 1994 and then assumed the responsibilities of Deputy Director-General of the International Finance Bureau. In 1997, he became the Director-General of the International Finance Bureau.
In July 1999, Kuroda was appointed as the Vice Minister of Finance for International Affairs. However, he resigned from the Ministry of Finance in the winter of 2003. After his resignation, he became a special advisor to the Cabinet of Ministers and devoted the next two years to teaching at the Graduate School of Economics at Hitotsubashi University.
In February 2005, Kuroda took on the role of the 8th President of the Asian Development Bank (ADB). During his tenure, he advocated for a more liberal monetary policy in Japan. It was expected when he was nominated in February 2013 to become the head of the Bank of Japan by the government led by Prime Minister Shinzo Abe. Kuroda's rivals for the position were Kikuo Iwata, who strongly criticized the Bank of Japan's recent policies, and Hiroshi Nakaso, a high-ranking official at the Bank of Japan responsible for international affairs.
Current Position
Kuroda's main task as the Governor of the Bank of Japan has been to combat deflation, stabilize prices, and stabilize currency exchange rates. His current term began on March 20, 2013, and is set to end on April 8, 2018. Kuroda's appointment to this position was strongly supported by the government, led by Prime Minister Shinzo Abe, due to his expertise and dedication to implementing effective monetary policies.
