ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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East Asian Financial Crisis and the IMF-Chasing Shadows

The east Asian crisis has thrown up several questions. Was it a crisis which was deeply embedded in the structural policies and the political economy of these countries? Was the economic appraisal of these countries validated by the information which the IMF had gathered? Could it be that the IMF prescriptions exacerbated the malady, and thereby needlessly raised the costs of adjustment? Was it unambiguous that the Fund's advice was dispassionate and was not biased by the hidden agenda of the foreign economic policy of the US in particular and the OECD in general?

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