IMF and the Asian financial crisis / consulting editor, Peter G. Zhang.

Format:

Book

Contributor:

Zhang, Peter G.

Series:

World Scientific Asian Economic Profiles

World Scientific Asian economic profiles

Language:

English

Subjects (All):

Financial crises--Asia.

Financial crises.

Asia--Economic conditions--1945-.

Asia.

Asia--Economic policy.

International Monetary Fund.

Physical Description:

1 online resource (122 p.)

Place of Publication:

Singapore ; New Jersey : World Scientific, c1998.

Language Note:

English

Summary:

The International Monetary Fund (IMF) features prominently in today's media. Its visible and contentious involvement in the Asian crisis have attracted inordinate media attention both good and bad. On one end of the scale, it has been portrayed as an institutionalized financial messiah, whose mere presence is able to resurrect emaciated economies and restore the public's confidence. However, at the same time it is also regarded as a Western-dominated financial bludgeon whose measures are aimed to break open developing economies for foreign pickings.Such disparate and extreme opinions are often

Contents:

Preface; Contents; A Brief History of the lMF; Of the Hour; Of the Men; Establishment; Structure of the IMF; Board of Governors; Executive Board; IMF Staff; Membership; Quota Subscriptions; Areas of Activity; IMF and the World Bank; Sources of Funding; Recipients of Funding; Operations; Cooperation between the World Bank and the IMF; References; IMF Surveillance; The Scope of Surveillance; Evolving Issues; Fundamental Principles of Operation; Acknowledgment of Diversity; A Multilateral Exercise; Improving Surveillance Measures; Financial Assistance and Conditionality; IMF's Sources of Finance

The Monetary ModelConditionality; IMF Financial Support; Financial Facilities; 1. Regular IMF facilities; 2. Special facilities; 3. Concessional IMF facilities; Objectives of Financial Support; Identity Crisis: The IMF in the 1970s; What Happened?; Saving the System; A New Era; Further Economic Turbulence in the 1970s; A New Agenda for the IMF; The 1980s: The Debt Crisis; The Baker Plan; The Brady Plan; Payment Arrears; References; Recent Efforts: The HIPC Initiative; Criticism; IMF and the Crisis; IMF Programs in the Asian Crisis; The Immediate IMF General Response to the Crisis

Specific Responses of the IMFTHAILAND; INDONESIA; KOREA; Additional Measures Taken by the IMF; Criticisms of the IMF; It Is Far Too Harsh; Response; The IMF Programs Have Made the Situation Worse; Response; Moral Hazard; Response; Unnecessary and Excessive Interference; Response; Painful Social Costs; Response; A New Chapter: Lessons for the International Financial System; The IMF's Envisaged Role in Global Cooperation; Appendix: Key Articles of Agreement of the IMF; ARTICLE I: Purposes; ARTICLE IV: Obligations Regarding Exchange Arrangements; Section 1. General obligations of members

Section 2. General exchange arrangementsSection 3. Surveillance over exchange arrangements; Section 4. Par values; Section 5. Separate currencies within a member's territories; ARTICLE VIII: General Obligations of Members; Section 1. Introduction; Section 2. Avoidance of restrictions on current payments; Section 3. Avoidance of discriminatory currency practices; Section 4. Convertibility of foreign-held balances; Section 5. Furnishing of information; Section 6. Consultation between members regarding existing international agreements

Section 7. Obligation to collaborate regarding policies on reserve assets

Notes:

Description based upon print version of record.

Includes bibliographical references.

ISBN:

9789812815880

9812815880