The Currency Crisis In Thailand And Its Effects
Beginning of paper
This paper discusses the impact of the currency crisis. On July 2, 1997 Thailand devalued its currency against the dollar, leading to a currency crisis that has led to devaluation's in Indonesia, Malaysia, South Korea, Russia, and Brazil. In our overview, we will discuss the timing of the crisis ....
Middle of paper
.... business remains paralyzed with frozen cash flow. Also affected are the private sectors and the countries banking system. The private sector carries huge debt because of the crisis. Andrew Maule a banking analyst at ABN Amro Asia Securities states, "It's quite realistic to assume that non-performing loans will hit 50 percent. Ultimately there will have to be a bailout." 1 The banks are looking at the government to bail them out but as of December 30, 1998 no banks had requested government ....
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Word count: 991
Page count: 4 (approximately 250 words per page)
