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
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, …
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The IMF provided a $10 billion bailout to Indonesia in November 1997, imposing stringent structural adjustment conditions that demanded banking sector reforms, public spending cuts, and market deregulation. These policies, while intended to stabilize the economy, resulted in significant social …
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On July 2, 1997, Thailand devalued the Thai baht after exhausting foreign currency reserves, marking the beginning of the Asian Financial Crisis. The currency fell from 25 baht per U.S. dollar to 54 baht per dollar by January 1998. The IMF and global financial institutions mobilized over $118 …
Thai Central BankIMFWorld BankMcKinsey & CompanyBank of Thailandasian-financial-crisisimfstructural-adjustmentcurrency-manipulationeconomic-shock-therapy+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 …