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To: yard_man who wrote (119281)4/20/1999 12:32:00 PM
From: BGR  Read Replies (1) | Respond to of 176387
 
tippet,

Then why are you suddenly criticizing the IMF?

The IMF has its own problems - some would claim that it was responsible, unknowingly perhaps, for the S.E. Asia crash by forcing interest rates higher; a model that the US wisely chose not to follow but instead decided to lower interest rates when the need arose.

Note that China and India who kept their markets insulated escaped w/o a scratch and Malayasia which paid no heed to IMF advice fared relatively well than its neighbours.

Now that interest rates are lower all over S.E. Asia, it is quite plausible that an upturn is in progress.

-BGR.