No roll over for loans, Japan says<\/p>\n
KUALA LUMPUR (Reuters): Japan told yesterday Southeast Asian
\nnations that it could not help their troubled economies by
\nforcing private banks to roll over loans, Philippine President
\nFidel Ramos said.<\/p>\n
Ramos told a news conference after a regional summit in the
\nMalaysian capital that Thailand had suggested Japanese banks roll
\nover loans falling due as part of an effort to support Southeast
\nAsia's economies.<\/p>\n
Malaysian Prime Minister Mahathir Mohamad told a separate news
\nconference that \"there was some suggestion that they (Japanese
\nbanks) should roll back, and it applied really to the private
\nsector, not so much the government\".<\/p>\n
The Philippine leader said Japanese Prime Minister Ryutaro
\nHashimoto told the leaders of the nine-member Association of
\nSouth East Asian Nations (ASEAN) that the Japanese government
\ncould not order private banks to roll over the loans.<\/p>\n
\"Prime Minister Hashimoto made it very clear that under our
\npresent systems of government,...government cannot order the
\nprivate sector, especially private sector banks, to do this or do
\nthat,\" Ramos said.<\/p>\n
\"But there must be a best effort to put government as the
\nregulatory agency and the private financial institutions to
\ncooperate more closely towards solving a common problem, which is
\neverybody's problem,\" the Philippine leader said.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/no-roll-over-for-loans-japan-says-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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