TOKYO (October 20): A TOP Japanese banker said his banks could refuse to provide any more funds for developing countries, adding he was 'furious' at the way lender countries have handled the problem.
Bank of Tokyo chairman Yusuke Kashiwagi said Japanese banks want third-world loans to be made more attractive.
'Without some credit enhancement, how can you get private banks to lend more money?' asked Mr Kashiwagi. 'I am furious about the matter.' Japanese banks are major lenders to the third world and Mr Kashiwagi's comments are a clear sign that they do not think a US plan for handling the debt crisis is working. The plan calls for major nations, banks and multilateral institutions to give more money to debtor nations that take tough action to put their economies in order.
