Asia

Currency Crises: the Role of Banks

This IMF working paper, by Piti Disyatat examines the aftermath of recent currency crises. Why did the developed countries which devalued during the ERM crisis fare so much better than those developing countries caught up in the Asian crisis of 1997-8?.

BIS sets up Asia-Pacific consultative council

The Bank for International Settlements (BIS) said on Mar 12, 2001 it had set up an Asian Consultative Council comprising governors of its central bank members in the region.

Asia response to revised Basel Accord

Asian countries have responded well to proposals for a new regulatory framework strengthening the global banking system and allowing banks more independence in assessing capital risk, according to New York Federal Reserve President William McDonough. …

Indonesia's IBRA chief optimistic on bank sales

The Indonesian Bank Restructuring Agency (IBRA) said on Feb 12, 2001 it was optimistic it would sell stakes in Bank Central Asia (BCA) and Bank Niaga as planned despite concerns some MPs might delay the process. "Yes, in principle I am optimistic," IBRA…

ADB appoints new chief economist

The Asian Development Bank has appointed Dr. Arvind Panagariya, Professor of Economics at Maryland University in the United States, as Chief Economist. Professor Panagariya will take up the position in early April 2001.

Books on the Asian crisis and its aftermath

So many books have been written about the causes of the Asian financial crisis from 1997-99 and about the lessons for policymakers. We review three of these books: "Asia Falling: making sense of the Asian crisis and its aftermath," "Asia in Crisis: the…

Kazakhs give details of new strategic oil fund

Kazakh President Nursultan Nazarbayev on Jan. 31 issued a decree setting out details of a special fund to make his resource-rich nation less exposed to changing prices for energy and commodities exports. The official Kazakhstanskaya Pravda newspaper said…