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Unformatted text preview: IMF was forced to initiate a $40 billion program to stabilize the currencies of SK, Thailand, and Indonesia. currency speculators began selling off the currencies of Southeast Asian countries. Thailand, the Philippines, Malaysia, and Indonesia were forced to let their currencies be devalued. Currency problems of Azn countries led to stock market crashes in several of them. other emerging markets around the world (notably Brazil) suffered as investors generalized the problems in Asia. 3) What are the lessons? What can the international community do to avoid another crisis?...
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This note was uploaded on 04/17/2008 for the course POLS 160 taught by Professor Notgoingtotell.. during the Fall '08 term at Beloit.
- Fall '08