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East Asian Crises - Philippines

East Asian Crises - Philippines

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Published by sam_dude

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Categories:Types, Business/Law
Published by: sam_dude on Apr 01, 2010
Copyright:Attribution Non-commercial

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04/01/2010

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East Asian Crisis-Philippines
-Amit Sheth-AzharuddinManasiya-SamirDaddikar 
-
RohanDesia
-
-VijaysarthyKrishnan
 
Weak Link
1.
Over Valued currency 
2.
Foreign over borrowing aggravated by the presenceof government guarantees
3.
Massive outflow of foreign investments
 
1.
Exports :Declined due to overvalued peso
2.
Exchange Rates: July 1997 26.4 Jan 1998 42.7Government intervention to maintain the exchange rate
a.
Uses $2 billion reserves (unsuccessful)
b.
Increase the interest rates to cushion the pesos depreciation3.Balance of payment:Deficit: $3.5 billion 1997 ( reduced gross reserves from $11 billionto $ 6 billion)Surplus: $1.35 billion 1998

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