(MarketWatch) — Japan is due to get a new leader next week, with the move potentially helping to ease the path of policy making and end the gridlock that has stymied attempts to heal the economy.
Japan’s current prime minister, Naoto Kan, confirmed Friday that he is resigning as leader of the Democratic Party of Japan, according to Japanese press reports.
“I did my best, and I did what I had to do under difficult circumstances,” Kan said, according to a translation by Dow Jones Newswires.
The widely expected move clears the way for an election for a new party leader, expected on Monday, who would then become the new prime minister.