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| Author: | Cockerill, C. |
| Title: | It's all just a drop in the ocean |
| Journal: | Euromoney
2001 : MAY, 385, p. 85-88 |
| Index terms: | CONTRACTS REPORTS IMF FINANCIAL CRISES |
| Language: | eng |
| Abstract: | The paper considers the following subjects: Reports on the agreement of the Association of Southeast Asian Nations (Asian) finance ministers to a fund for mutual defense through foreign exchange market intervention. Performance of the region's currencies as of April 2001; Establishment of the Asian swap arrangement (ASA); Intervention of the International Monetary Fund (IMF) in the management of ASA; Criticism of the IMF intervention; Effect of the Asian financial crisis. The author states that still convinced that their ailing currencies are sick because of the attentions of speculators, Asean finance ministers have agreed a fund for mutual defense through forex market intervention. |
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