IMF： More Funding,More Reforming

The pain of a decade ago
What a history! When the Asian Financial Crisis broke out in July 1997, many Asia countries suffered heavily from the financial and economic meltdown. Some Asia countries, such as South Korea, Malaysia and Indonesia, resorted to IMF for help and carried out a series of rescue packages featured by tough fiscal and monetary policies under the guidance oflMF whose kernel principles are neo-liberal economic principles and whose reasoning was that these tightening steps would restore confidence in the fiscal solvency, penalize insolvent companies, and protect currency values. They are market-oriented!