On the lookout for fallout

Article Abstract:

The Singaporean stock market negatively responded to the capital control policy implemented by Malaysian Prime Minister Mahathir Mohamad. Mahathir decided to prohibit the foreign trading of the ringgit to protect the Malaysian economy from being severely hit by the continuing Asian economic crisis. After Mahathir's announcement of the new policy, the Singapore Straits Times Index dropped 3.9% with a closing value at 805.04, 10% lower from that closing value a week before. A number of Singaporean financial analysts feel that the Malaysian policy will significantly negatively affect Singapore's economy.

Intnl Economic Policy, Evaluation, Economic aspects, Singapore, Malaysia, International economic relations, Capital movements, Singapore foreign relations, Malaysian foreign relations

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Calling in IMF will bring reforms to restore confidence

Article Abstract:

The government of Indonesia has decided to seek the assistance of the International Monetary Fund (IMF) to alleviate the effects of the regional currency crisis on the country's economy. The government has also announced that it was requesting aid from the World Bank to revive foreign exchange rates and reestablish confidence in the country. The move received support from the Indonesian business sectors, though some doubts remain as to the amount of influence the IMF would have over the country's economic policies.

Currency Stabilization Programs, Management, International Monetary Fund, Economic policy, Indonesia, Currency devaluation, Devaluation (Currency), Currency stabilization

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