Asia Forum Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Asia Forum

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Jack Clarke who wrote (1077)	1/18/1998 3:53:00 PM
From: Rational	Read Replies (2) of 9980

Jack: Clinton received an urgent telegram from the US Ambassador in Indonesia soon after the rupiah fell below 10000 per US$, stating that Indonesia was in the brink of economic collapse and socio-political chaos. Clinton was forced to act because of the resoundingly negative response of global financial markets to the Indonesian crisis. Suharto is a very reserved guy and would have continued to act in his own way; but Riyadi was instrumental in having developed a rapport between Suharto and Clinton which must have helped Clinton prod Suharto to act; of course, Suharto also had no option despite the fact that even now he does not like many of the IMF prescriptions. In the whole game, I visualize that Indonesia (as a country) has been in a stronger position, although this strength was getting diluted (severely) by a highly corrupt Suharto. The rupiah's fall has affected foreign lenders and financial markets much more severely than Indonesia so far. Just imagine that when a lender cannot collect the money from the borrower (Indonesian corporation), it is the latter who benefits. Sankar

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next