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Strategies & Market Trends : Asia Forum -- Ignore unavailable to you. Want to Upgrade?

To: Jyoti sharma who wrote (1817)	2/1/1998 12:21:00 PM
From: Worswick	Read Replies (1) \| Respond to of 9980

Jyoti and other please keep in mind that the $24 billion just agreed upon in New York last week is only something like 25% of Korea's short term debt. Presumably, this was the easy debt that they tackled first-- stands to reason. Right? Geting people to agree on the easy part took a month. Atop this you have the off-book corporate debt which is coming due and which the government, now presumably, is on the line for. What happens when some (any) of this short term debt is not rolled? They are crowing in New York about doing "the deal". People have taken this to mean that they have rescheduled all the short term debt. I think this is misleading. There is not one shoe left to drop. There are several. This is a centipede.