JAPAN PRESSURED ON LATIN DEBT

JAPAN PRESSURED ON LATIN DEBT

Policy advisers from the United States, Europe and Latin America called for greater support from Japan in easing Latin America's debt problem in exchange for more power in the World Bank.

The experts concluded at a three-day seminar on Latin America that the region will never pay back its $400 billion foreign debt unless some outside relief is provided.They suggested a multilateral agency formed by the governments of major creditor nations could help out Latin debtors by allowing them to exchange up to half of the total debt for long-term, low interest rate bonds guaranteed by the agency.