Thailand's Currency Crisis: Effects: Difference between revisions
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==Effects on Thailand== | ==Effects on Thailand== | ||
* For Thai citizens, foreign goods were suddenly more expensive. | |||
* Biggest impacts in the financial sectors (i.e. banks). | |||
* Foreign loans loaned out to Thai citizens aren't paying the interest/face value of the original loan. | |||
* IMF arranged emergency rescue package of $18 billion for Thailand | |||
==Effects on Region (SE Asia/Asia)== | ==Effects on Region (SE Asia/Asia)== | ||
== | * Thailand > Indonesia and Korea > Russia > Latin America | ||
* this Asian crisis pushed one-third of the globe into recession during 1998 | |||
* total world IMF rescue funds because of this: $184 billion | |||
==Effects Beyond Asia== | |||
* Any country selling to Thailand pre-crisis now gets severe drop in demand. | |||
{{Currency Crisis Nav Bar}} | {{Currency Crisis Nav Bar}} |
Revision as of 01:54, 29 November 2006
Effects on Thailand
- For Thai citizens, foreign goods were suddenly more expensive.
- Biggest impacts in the financial sectors (i.e. banks).
- Foreign loans loaned out to Thai citizens aren't paying the interest/face value of the original loan.
- IMF arranged emergency rescue package of $18 billion for Thailand
Effects on Region (SE Asia/Asia)
- Thailand > Indonesia and Korea > Russia > Latin America
- this Asian crisis pushed one-third of the globe into recession during 1998
- total world IMF rescue funds because of this: $184 billion
Effects Beyond Asia
- Any country selling to Thailand pre-crisis now gets severe drop in demand.