the process of overcome
the process of overcome is as follow. briefly, in November 21st 1997, korea applied to theIMF for thebailout officially and repaid all bailout in August 23rd 2001 for 3 years 8month.
1997.11.14
김영삼 대통령, IMF행 결심
11.21
IMF 구제금융 신청 공식 발표
12.5
IMF, 1차 지원금 56억 달러 제공
1998.5.20
64조원 규모의 금융 구조
the demand of IMF.
- As a result, we lose the financial independence and a large portion of profit went to foreign capital and foreign investor.
- It means that no matter how the people may work and earn money, economic outcomes was not the part of the people.
- Eventually, most of Koreans has suffered unstable life except some people.
The Mexican government applied to theIMFbailout
2) Managing external debt using sustainability indicators
External debt management involves balancing resource mobilization and deployment as well as orderly repayment of future obligations. For sustainable debt management, policy makers need to project accurate debt dynamics that are sensitive to the way the current account deficits are being financed. If borrowed resources are not used produ
the tax system.
Greece and other countries not making good management decisions.
With a direct package of aid from the European Union.(IMF money)
the total lack of respect for hardworking American people.
lead to future bailouts of larger struggling countries
make the present budget deficit and public debt more serious
not asking Europe to help bail out indebted U.S. states(California)
F
crisis in 1999. Brazil, Argentina, and Colombia are countries that underwent economic crisis most
frequently
from
1980.
In
1992,
Brazil’s
inflation
rate
reached
1.175%.
Moreover
Brazil
was
supported by IMFbailout in 1998.
The range of fluctuation of the foreign exchange rate in Brazil real shows dramatic movement.
LG Business report targeting B