Don't rush to judge Malaysia's decisions
Article Abstract:
Malaysia's capital control policy is seen by many as the only alternative the government could do to prevent its economy from continuously declining. Malaysia's economy declined another 6.8% in the second quarter after posting a 2.8% decline in the first quarter of 1998. Moreover, the IMF bailout program failed to solve the massive economic dilemma. Malaysia's economy was headed to a national calamity despite the government's efforts of curbing government spending and tightening the fiscal and monetary policy.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
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Manila launches a dollar-hedge facility
Article Abstract:
The Philippines introduced a new dollar-hedge instrument called non-deliverable forward contracts (NDFs) that are designed to mitigate the strain on the peso. However, the NDFs encountered problems which further decreased the peso against the US dollar at 45.420 pesos, up by 52.6 centavos. NDFs would enable corporate borrowers to lock in a preestablished exchange rate based on a central bank formula that considers commercial-bank interest rates on both peso and dollar loans.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
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