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To: Dwight E. Karlsen who wrote (13772)1/17/1998 3:34:00 AM
From: ed  Read Replies (1) of 97611
 
The IMF help is a dose of poison to those Asian countries. It will force many financial
institutions close their doors, and it will have a serious psychological impact on common
people there, and people just start withdraw their savings from the banks and even the bank with strong financial background were get hurt seriously. It also means significant reducing the economic growth in those countries, and will hurt their capabilities to pay off the debt in the
years to come, which is not those countries need. What those countries need now is continuous strong economic growth so that they can accumulate enough wealth to pay off the
debt ,while the IMF's policy poinst to the other direction which make those countries permanent financial hostages of IMF. How can you pay off your debt if you do not have any money left ????? So IMF's policy is just a dose of poison , if it does not change quick, those
Asian countries have no choice but close their doors and default the debts. That is what I called mutual destruction.
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