By mid-1998, the IMF completes its comprehensive restructuring of Southeast Asian economies through massive bailout packages totaling nearly $100 billion, implementing radical free-market reforms that fundamentally reshape the region’s economic landscape. These interventions prioritized …
IMFWorld BankIndonesian GovernmentThai GovernmentSouth Korean Government+1 moreasian-financial-crisisimf-interventionstructural-adjustmenteconomic-transformationfinancial-capture+1 more
Thailand floats the baht on July 2, 1997, causing a dramatic currency devaluation that triggers the Asian Financial Crisis. After years of rapid economic growth and significant current account deficits, Thailand was forced to abandon its fixed exchange rate, with the baht depreciating from 25 to 56 …
Thai GovernmentInternational Monetary Fund (IMF)World BankMcKinsey & CompanyAsian Development Bankasian-financial-crisiscurrency-collapseimf-interventionstructural-adjustmenteconomic-vulnerability+1 more
The International Monetary Fund (IMF) begins systematic intervention in Asian economies following the Thai baht devaluation, triggering a region-wide financial crisis. This marks the start of a coordinated structural adjustment strategy that fundamentally reshaped Asian economic landscapes. The IMF …
The International Monetary Fund (IMF) initiates comprehensive economic intervention in Thailand, marking the start of widespread structural adjustment policies across Southeast Asian economies. This intervention requires Thailand to implement strict austerity measures, deregulate financial markets, …
IMFWorld BankThai GovernmentThai Central BankMcKinsey & Companyasian-financial-crisisstructural-adjustmenteconomic-interventionneoliberalismimf-policy+1 more