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Strategies & Market Trends : Asia Forum

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To: Tommaso who wrote (864)	1/14/1998 9:49:00 PM
From: Stitch	Read Replies (2) of 9980

To All, Some news on local Financial TV broadcast 10 minutes ago. Jakarta and IMF officials have announced an agreement that results in a continuation of the bailout. Some highlights: The petroleum subsidy will be discontinued, the 49% foreign ownership of finacial institutions rule will be repealed, the clove monoploy will be disbanded. Japan announced today that they will announce more economic stimulus measures by the end of March that will include additional tax cuts. Jefferey Sachs says we are in a "financial tornado" and that it makes absolutely no sense to shut down credit in addressing the Asian economic woes. Best, Stitch

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