Japan disaster costs seen at least $180 billion

Japan faces a recovery and reconstruction bill of at least $180 billion, or 3 percent of its annual economic output, or more than 50 percent higher than the total cost of 1995's earthquake in Kobe.

Moody's Investors Service warned on Monday the huge financing needs Japan faces may erode investor confidence in the country's ability to repay its debts, forcing up borrowing costs.