Japan Prime Minister Ishiba faces leadership vote in parliament today

Japanese lawmakers will vote today, Monday, November 11, 2024, whether Prime Minister Shigeru Ishiba remains the
country’s Prime Minister.

Ishiba called a snap election when he won the Liberal Democratic Party (LDP) contest for leadership

• At that election, the party lost its lower house majority that held since 2012
• The LDP and coalition partner New Komeito did, however, win the largest number of seats and have since been jockeying to form government with the support of minor parties
• Small opposition Democratic Party for the People (DPP) has emerged as a “kingmaker”. DPP has said it may support the LDP/K on a policy by policy basis, a recipe for fragile government. The leader of DPP said on Friday the party will not be supporting Ishiba in the vote today
• If no candidate wins a majority in the initial vote today a runoff between the top two contenders will determine the winner. A runoff has not been held in 30 years.

This article was written by Eamonn Sheridan at www.forexlive.com.