Jul 05 2007
This July marks the 10th anniversary of East Asia's financial crisis. In July 1997, the Thai baht plummeted. Soon after, financial panic spread to Indonesia and Korea, then to Malaysia. In a little more than a year, the Asian financial crisis became a global financial crisis, with the crash of Russia's ruble and Brazil's real. This marked the first wave of departures of middle income countries from the IMF sphere of influence. In a second stage, other countries like Russia decisively abandoned their programmes with the institution.
Adolfo Acevedo
Read the full article:
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment