Currency bomb is still ticking

Article Abstract:

The enormous power of currency speculators is becoming increasingly apparent. The Pakistani government has been forced to devalue the rupee by 4.2%, while the South African rand has fallen to a record low. These developments reflect a new round of currency speculation in emerging markets, fuelled by growing globalization and weak economic fundamentals. Speculation has begun at this point because of developments in the Japanese currency, especially the recent weakness of the Japanese yen.

Speculation

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Crisis worst for 50 years, says Clinton

Article Abstract:

President Bill Clinton has unveiled a three-stage plan designed to create new resources to assist countries under attack in financial markets. The plan will be based on a new mechanism to supply contingent finance to assist countries with avoiding world financial contagion. Clinton has also expressed a wish to see development institutions such as the World Bank set up a new emergency capacity to lend rapidly. His stance has helped to support financial markets.

Management, Clinton, Bill, Economic policy

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Is a credit crunch coming?

Article Abstract:

There are signs that credit supply is drying up as concerns grow about bank defaults. This is reflected particularly in the rapidly rising cost of wholesale credit. There is very little new issue activity in equity or bond markets, and investors have become extremely cautious. It is likely that merger and acquisition activity will decline significantly in the US and the UK, and there will also be a slow-down in new share issues.

Credit

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