IMF Initiates Asian Financial Crisis Intervention

| Importance: 8/10 | Status: confirmed

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 provided $36 billion in support to Indonesia, Korea, and Thailand, with conditions requiring significant economic reforms, financial sector restructuring, and improved governance.

Key Actors

IMF World Bank Thai Government Multinational Corporations

Tags

asian-financial-crisis imf structural-adjustment economic-intervention

Sources (3)

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