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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (30122)	7/22/1998 12:17:00 PM
From: Joseph G.	Read Replies (1) \| Respond to of 132070

Mike, <<don't you think the IMF credits will allow them to buy raw material?>> My understanding is IMF, BIS, etc. loans go to pay off the current portion of foreign debt, predominantly. Which helps them to buy raw materials insofar as they don't have to pay off from the export surplus, if any.

To: Knighty Tin who wrote (30122)	7/22/1998 12:22:00 PM
From: Mike M2	Read Replies (1) \| Respond to of 132070

Mike, few things in life are black and white except for the limo's the left wing skunks ride around in. -g- Mike

To: Knighty Tin who wrote (30122)	7/22/1998 12:33:00 PM
From: Bipin Prasad	Read Replies (1) \| Respond to of 132070

Mike, IMF guys are so selective that most folks are not getting any help from them. Companies after companies are selling thier equipments( ei, One company from Dae Jeon sold it's equipment to a Phillipine company @less than 30%-7.5M won which they paid 25M Won one yr ago. They are considered to be lucky one because it's sold. So they can pay it's workers' over due salaries.) Mike, it's not pretty over there. Hope they can stay strong during this down turn. I hope IMF works faster and better for them to be able to get a job. It's not black or white or even gray, there no name for it. It's worse than most of you here can imagine. At this point, I'm not interested in US Chips or Korean Chips, I just hope they can get over this without further damage in Korea. later, InSook