IMF Finalizes Systematic Economic Transformation of Southeast Asian Economies

| Importance: 9/10 | Status: validated

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 Western corporate interests, dismantled local economic protections, and created long-term dependency on international financial institutions through conditional structural adjustment programs.

Key Actors

IMF World Bank Indonesian Government Thai Government South Korean Government Multinational Financial Institutions

Tags

asian-financial-crisis imf-intervention structural-adjustment economic-transformation financial-capture global-economic-policy

Sources (3)

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