The case for international rescue packages

Article Abstract:

The International Monetary Fund (IMF) has grown substantially in significance as a result of the financial crisis in Asia. There has inevitably been some criticism of the way in which the IMF has acted, with some observers regarding it as undemocratic. Furthermore, it has been seen as bringing Asian economies into recession unnecessarily and giving funds inappropriately to private sector banks. It is in fact difficult to claim that the IMF should not have become involved in Asia's financial crisis. Indeed, it is a cause for concern that inadequate resources may force it to scale down its operations.

Asia

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Why did the IMF step in to rescue Thailand?

Article Abstract:

There were many warning signals about the currency crisis in Thailand, but investors chose to continue to invest, and it is uncertain whether the crisis could have been averted. The crisis was severe, but not so severe that it would have had a very negative impact on the economies of developed countries if the International Monetary Fund (IMF) had not intervened. The IMF justified its intervention by stating that the crisis could have spread to other countries which would otherwise not have experienced any difficulties.

Thailand

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The real cost of IMF rescue deals

Article Abstract:

The International Monetary Fund (IMF) has become the target of extensive criticism, particularly in the US. This comes at a time when the IMF is playing a key role in protecting the world economic system. Some observers believe that in certain cases IMF economic assistance packages have had a negative long-term impact, particularly in terms of the tax burden for ordinary people. Levels of risk have now risen to intolerable levels, and this problem needs to be addressed urgently when the current crisis passes.

Analysis

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