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Strategies & Market Trends : Asia Forum
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To: Henry Volquardsen who wrote (6555)9/21/1998 8:27:00 PM
From: Jay Scott  Read Replies (1) of 9980
 
Henry, you just said the magic words: currency board. Why do the IMF and other organizations resist the establishment of currency boards in troubled economies? Is it the loss of control over the process?

From your experience and your explanations, it would seem that what the world development orgs are doing is getting way ahead of themselves in helping raise debt capital for certain markets. You make it sound as if they do not have the infrastructure nor the financial acumen to respond. Does that destine these countries to an exaggerated and never ending cycle of credit overexpansion and violent contraction like we continue to see in the developing economies?

If the solutions are available to the policy makers, what keeps them from being implemented? Is it a question of who will suffer and who won't?

BTW, I appreciate your time and responses to these posts. I like a good, irreverent Clinton joke (is there any such thing as a bad one?)as much as the next guy, but you've been very informative.

JS
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