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Which one of the following countries refused to accept the IMF conditions (and maintained a policy...

Which one of the following countries refused to accept the IMF conditions (and maintained a policy of restricting capital outflows) during the East Asian financial crisis?

Select one:

A. South Korea

B. Indonesia

C. Malaysia

D. Thailand

E. Singapore

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Answer #1

Answer:- Correct option is (C).

Malaysia refused to accept the IMF conditions (and maintained a policy of restricting capital outflows) during the East Asian financial crisis.

Malaysia was the only country effected by the 1997 Asian economic crisis that declined to adopt an IMF program.

Malaysia’s policy saw it recover from the crisis at least as fast as countries that implemented IMF policies. The poor in Malaysia are significantly better off today that they would have been under IMF policies and Malaysia has benefited, in a number of other ways, from having charted its own course through the Crisis.

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