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The Currency Crisis In Thailand And Its Effects
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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 .... Middle of Term Paper
... that hedge funds also played a role in Thailand's financial crisis. As a result of multibillion-dollar overhang, Thai 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 aid. At the beginning of the ... |
| Number of Words: 991 |
Approximate Pages: 4 |
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