Japan to boost this year's bond issuance to nearly $2 trillion, sources say

Japanese national flags flutter in front of buildings at Tokyo's business district

TOKYO (Reuters) - Japan will ramp up total government bond issuance for the current fiscal year to 210 trillion yen ($1.95 trillion), the largest since comparable data became available in 2014, to fund spending to combat the coronavirus pandemic, government sources told Reuters on Wednesday.

In compiling a second extra budget on Wednesday, the government will top up by nearly 60 trillion yen (453.20 billion pounds) its original plan to issue 152.8 trillion yen worth of Japanese government bonds (JGBs) in the current fiscal year ending in March 2021, the sources said.

Starting from July, the government will increase monthly issuance for a range of JGBs, including issuance for 10-year bonds by 2.6 trillion yen, 20-year bonds by 1.2 trillion yen and 30-year bonds by 0.9 trillion yen, the sources said.

(Reporting by Takaya Yamaguchi, writing by Leika Kihara, editing by Chris Gallagher)