Bank of Tokyo chairman Yusuke Kashiwagi said on Wednesday that Japanese banks will refuse to give any more money to the debt-ridden Third World unless major nations act to make those loans more attractive.
"Without some credit enhancement, how can you get private banks to lend more money?" Kashiwagi asked, adding, "I am furious about the matter."Japanese banks are major lenders to the Third World and Kashiwagi's outspoken comments are a clear sign that they do not think the U.S. plan for handling the debt crisis is working.
Bank of Tokyo often speaks on behalf of other Japanese banks when it comes to developing country debt because it is Japan's biggest lender.