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Issues, debates and an overview of the crisis
Shalendra D. Sharma

external balances. Their aim is to strengthen financial systems, improve governance and transparency, restore economic competitiveness, and modernize the legal and regulatory environment. The conditions that the IMF imposed on Thailand, Indonesia and Korea in exchange for IMF-led rescue packages consisted of three basic components. The first concentrated on macroeconomic policy reform, in particular (a) the introduction of tight fiscal and monetary policy (i.e. an increase in interest rates and the adoption of strict limits on the growth of money supply), in order to

in The Asian financial crisis