The Fund's changing role in Asia
In this speech, David Burton, director of the Asia & Pacific Department of the IMF, points out how the Fund's role in Asia has changed since the Asian financial crisis in 1997 and 1998.
Burton also discussed the lessons Asian countries have learned in the aftermath of the crisis. "Substantial reserve cushions have been built up, as an important line of defense against possible future market volatility," Burton notes. He warned, however, that "too large a buffer of this type can be costly to
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