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Strategies & Market Trends : Asia Forum
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To: Stitch who wrote (2268)2/19/1998 11:49:00 PM
From: Derrick P.  Read Replies (1) of 9980
 
Stitch and all,

G7 meeting coming up starting tomorrow and judging from the WSJ much of the focus will be on Asia and particularly Indonesia. An interesting editorial in the WSJ about a currency solution for Indo. They stated that Argentina set up a currency board with the help of the IMF that was backed by a fund contributed to by wealthy Argentinians. That would certainly send a strong message, if instead of using a currency board to get their money out of the country, Suharto and family used their wealth to back the currency and their country. That this has not been proposed in Indonesia's case indicates what level of scum we are dealing with in this situation.
The current rumors about the currency board seem to be that it may be postponed to give 'banking and structural reforms' a chance to be implemented. The world's best financial minds seem to be focusing on the Indonesian problem, but I guess as they say 'You can lead a horse to water ...'.

Best Regards,

Derrick
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