Everyone from political pundits to people on the street have issued forth on the new UK government’s tax cut-laden growth plan recently. But it was a rare public rebuke from the International Monetary Fund (IMF) that really impacted financial markets. Days after the government made its mini-budget announcement, the IMF warned that “large and untargeted […]
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TOKYO — When Larry Summers says it’s bad, you know it’s bad. Ex-Treasury Secretary Summers made his bones amid the wreckage of the 1997-98 Asian financial crisis. Summers was a key member of the financial fire brigade tending to — and at times making worse — a blazing meltdown that left big scars. As such, […]
Australia’ s Reserve Financial institution has just reported the loss of A$37 billion dollars (US$24. 1 billion), the biggest in its history, and it says it will probably be unable to pay the federal government dividends for some time. The particular announcement followed a review of its bond-buying program, one of the most important methods it supported the particular economy during the very first […]
TOKYO – Few narratives spook Asia more than word of trouble in Thailand – a lot more so when foreign-exchange reserves are involved. It was Bangkok’s devaluation in July 1997 that put in place the Asian financial crisis. As foreign-exchange supplies ran out, the government and Bank of Asia had no choice but to discard the […]
The post Falling FX reserves herald Asia financial crisis 2 . 0 made an appearance first on Asia Periods .