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

To: B Tate who wrote (4834)	6/25/1998 10:40:00 PM
From: Stitch	Read Replies (2) \| Respond to of 9980

Hiya Bernie, Anybody else surprised at the reference to IMF policies? Correct me here Stitch, but all I've ever heard was that Malaysia would never, NEVER go along with the "stupid" policies of the IMF. >> Actually Bernie, Malaysia got high marks for initiating reforms up until Mahatir started in. The first two incidents that got international coverage and clouded the "early recovery" prognosis were the elimination of short trading and the implied threat of calling in the ISA to prosecute local analysts that said negative things. Even Camdessus had passed on high praise for early initiation of reforms and stated publicly that Malaysia would not need IMF reforms. The deal between IMF and Malaysia was for IMF to act as a consultant. I can speak from personal experience that a primary task of a consultant is to take the blame <G>. <<He claims that the "Penang Incident" was only the beginning of the unrest.>> I think you mean Pahong. The only "Penang Incident" I am aware of is the one you instigated. <G> Anyway, I am off to the computer fair to buy some toys. Dinner tommorow night? Best, Stitch