Japan is to issue an extra Y10,800bn ($109bn) of government bonds this fiscal year to help it tackle its worst recession since the second world war.
The bonds will fund the bulk of the government's $154bn stimulus plan and bring its expected total new issuance for the fiscal year starting this month to a record Y44,100bn, a 33 per cent rise on last year.
This comes as governments around the globe are taking on record debt to bail out loss- making banks and bolster economies as they attempt to spend their way out of the downturn.
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