Japan finance minister under fire for Nazi comment

City of Miami hires county finance staff to stabilize troubling budget issues

Japan and Nazi Germany were allies in World War II, when Japan occupied much of Asia and Germany much of Europe, where the racial supremacist Nazis oversaw the killings of an estimated 6 million Jews before the war ended in 1945 with their defeat. Japan’s history of military aggression, which included colonizing the Korean Peninsula before the war, is the reason its current constitution limits the role of the military. According to a transcript of the speech published by the newspaper Asahi Shimbun, Aso decried the lack of support for revising Japan’s pacifist constitution among older Japanese, saying the Liberal Democrats had held quiet, extensive discussions about its proposals. “I don’t want to see this done in the midst of an uproar,” Aso said, according to the transcript.

Japanese Finance Minister Taro Aso is surrounded by reporters at the ministry in Tokyo Thursday, Aug. 1, 2013.

As property taxes poured in from 2005 through 2007, the citys reserves were dwindling, mostly to pay off mounting pension costs. FUND DWINDLED A bulging $141 million reserve fund in 2003 had dwindled to $10 million seven years later. A series of Miami Herald articles in 2008 explaining how financial leaders were transferring money from construction accounts to operating accounts to balance the general-fund budget caught the attention of the SEC, which launched its investigation. When Mayor Tomas Regalado was elected in 2009, he inherited budgets with whopping shortfalls.

Finance Ministry launches manual on composite budgeting

Ministry of Finance

Also, the composite budget is to see to the effective allocation of resources to enhance service delivery of the various MMDAs. At the maiden conference for MMDA budget officers in Accra, a Deputy minister of finance, Mr Kwaku Ricket Hagan, explained that the various reforms by the ministry was to deal with challenges of public financial management to put such systems on a sound footing and propel the country for growth and also move it from the present low middle income status into a higher middle income bracket. He said the government was committed to ensuring that resources for decentralised functions were transferred through the composite budget process to MMDAs to improve service delivery. I assure you that government is taking the necessary steps to ensure that resources are disbursed in a more predictable and timely manner, he said. According to Mr Hagan, the ongoing fiscal decentralisation reforms which entailed entrusting the assemblies with the authority and capacity to generate, allocate and utilise financial resources to promote socio- economic development of the districts would not make any meaning unless the lapses in financial management at the MMDA level were addressed.

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