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Politics : Formerly About Applied Materials

AMAT 319.51

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Jan 26 3:59 PM EST

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To: Jacob Snyder who wrote (12448)	11/30/1997 10:27:00 PM
From: Gottfried	Read Replies (1) of 70976

Jacob, I'm not sure about the sequence of events in your post #12432 because I didn't pay enough attention when the news was new. From what I read, the IMF and S.Korea haven't hammered out all the conditions of the deal yet. The second story (below) even suggests an agreement could be months away. I don't think these nations can afford to take that long. I don't see the semi equipment stocks making headway with this uncertainty hanging overhead. GM yahoo.com Excerpt: KBS radio said the IMF had asked Korea to liquidate three or four troubled banks as well as 12 highly leveraged merchant banks as soon as possible. But South Korea said it wanted to try restructuring them first and to liquidate them only as a last resort, the report said. yahoo.com Excerpt: The proposed Asian bail-out fund has been resisted by Western nations led by the U.S., which have insisted that the IMF play the central role in the rescue operations and any funds be used in accordance with stringent IMF conditions.

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