By year’s end, the Asian Financial Crisis results in a fundamental restructuring of Southeast Asian economies. Millions lose jobs, local companies are sold at fire-sale prices to multinational corporations, and national economic policies are effectively rewritten under IMF and World Bank …
International Monetary FundWorld BankMcKinsey & CompanyMultinational CorporationsFederal Reserveasian-financial-crisisstructural-adjustmentimfeconomic-shock-therapycorporate-capture+1 more
McKinsey & Company releases a strategic report recommending extensive market liberalization and corporate restructuring across Southeast Asian economies during the Asian Financial Crisis. The report becomes a blueprint for IMF and World Bank interventions, prioritizing foreign investment and …
McKinsey & CompanyInternational Monetary FundWorld BankSoutheast Asian Governmentsasian-financial-crisismckinseystructural-adjustmentcorporate-strategyeconomic-shock-therapy+2 more
In the aftermath of the 1997 Asian Financial Crisis, the IMF and World Bank coordinated an unprecedented $58.4 billion bailout package for affected countries, particularly South Korea, Thailand, and Indonesia. These interventions mandated comprehensive corporate restructuring, including asset sales, …
International Monetary FundWorld BankCorporate LeadershipAsian Governmentsasian-financial-crisisimf-interventioncorporate-restructuringfinancial-captureglobal-economic-transformation
The International Monetary Fund implements a 7 billion bailout package for South Korea, mandating sweeping economic reforms. This included forced corporate restructuring of the chaebol system, financial sector liberalization, and opening markets to foreign investors. The conditions resulted in …
International Monetary FundSouth Korean GovernmentChaebol CorporationsWorld BankAsian Development Bankimfstructural-adjustmenteconomic-shock-therapyasian-financial-crisissouth-korea+2 more
On October 15, 1997, the International Monetary Fund (IMF) announced a comprehensive $43 billion bailout package for Indonesia during the Asian Financial Crisis, contingent upon radical structural adjustment reforms. The IMF mandated a 50-point reform program that included closing 16 private banks, …
International Monetary FundSuharto GovernmentWorld BankMcKinsey & CompanyBank Indonesiaasian-financial-crisisstructural-adjustmentimfindonesiaeconomic-shock-therapy+2 more