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The IMF and several countries agreed to help Thailand by funding them with $16 billion rescue package. And 4 billion come from Japan. In return Thai land have to lower its budget deficit to prevent inflation from rising above 9%, increase VAT from 7% to 10% and clean up debt in local banks. But the rescue package was not efficient funding was misallocated (corruption in Thailand).
The economic crisis was not only in SEAN, it was the world problem so the US and Europe open market and help these economies get back on track. This will mean an increase in export for SEAN, earn some revenue for the economy
What else can I help you with?
What happened when a financial crisis struck Thailand in 1997?
In 1997, Thailand experienced a severe financial crisis triggered by the collapse of the Thai baht, which was forced to float after the government could no longer maintain its fixed exchange rate. This led to a rapid devaluation of the currency, resulting in widespread bankruptcies, a surge in unemployment, and significant economic contraction. The crisis quickly spread to other Asian economies, resulting in a regional financial turmoil known as the Asian Financial Crisis. In response, Thailand received a bailout from the International Monetary Fund (IMF) and implemented extensive economic reforms to stabilize its economy.
What kind of money do Hawaiian people use?
Hawaii is the 50th state of the US so the official currency is US dollars. However, the state has a considerable amount of Asian currency exchanged there, as it is not legal tender.
Why should someone consider currency investing over other types of investing?
With daily news bulletins reporting on the gloomy global credit crunch it can be difficult to know where exactly to put your money. While domestic markets might show an ever-descending decline in the retail and property sector, overseas currency markets remain buoyant. With appropriate independent financial advice, the Asian and Australasian currency markets might just be you key to a secure future.
What is the motto of Asian Development Bank?
Asian Development Bank's motto is 'Fighting poverty in Asia and the Pacific'.
Who are the two largest contributors to the Asian development bank?
philippines and manillalargest contributor to the asian development bank
What are the Examples of global crises?
1929-1933 the global depression 1997 Southeast Asian crisis
When was Southeast Asian Games created?
Southeast Asian Games was created in 1959.
How has Thailand Myanmar and Bangladesh worked together?
These southeast Asian countries want to work together to address migrant crisis in what is called the Boat People.
What has the author Ruth Law written?
Ruth Law has written: 'The Southeast Asia cookbook' -- subject(s): Cookery, Cookery, Southeast Asian, Southeast Asian Cookery, Southeast Asian Cooking
What is Association of Southeast Asian Nations?
The population of Association of Southeast Asian Nations is 601,000,000.
What is Asia's currency?
Asian dollar. IF an "Asian" currency even exists!
When was Southeast Asian Ceramics Museum created?
Southeast Asian Ceramics Museum was created in 2005.
When was Journal of Southeast Asian Studies created?
Journal of Southeast Asian Studies was created in 1960.
What is Association of Southeast Asian Nations's population?
The population of Association of Southeast Asian Nations is 601,000,000.
When was Southeast Asian Press Alliance created?
Southeast Asian Press Alliance was created in 1988.
When was Journal of Current Southeast Asian Affairs created?
Journal of Current Southeast Asian Affairs was created in 1982.
When was Association of Southeast Asian Nations created?
Association of Southeast Asian Nations was created on 2008-12-16.
