posted by admin on Jan 15
IMF has a negative image in developing countries. Chief Regional Economist of PT Bank BNI Tbk, bank business, Surabaya Ikhsan Modjo said that Asia and the IMF said the relationship began to crack in the post-crisis monetary late 1990s, as recommended by the multilateral credit agencies that rated the economy worsened. In addition to the negative image of the IMF’s intervention against the recipient country, he explained, it has been likened to the institution as a hospital, so if you’ve got the credit rating or index of investment confidence in the country could fall. Beyond that, countries in Asia already has other strategies to overcome shortages of foreign exchange reserves, the diversification of reserves, has entered into a currency conversion, as the Asean, China, Japan and South Korea, through the Chiang May Initiative.