IMF FIGHTS FOR LEGITIMACY 10 YEARS AFTER ASIAN FINANCIAL CRISIS

IMF FIGHTS FOR LEGITIMACY 10 YEARS AFTER ASIAN FINANCIAL CRISIS

(FLES): This 15 January 1998 file photo shows then Indonesian President Suharto signing a new letter of agreement before International Monetary Fund (IMF) Director-General Michel Camdessus at Suharto's residence in Jakarta. Suharto signed the letter spelling out major reforms and austerity measures linked to a massive bailout led by the IMF. Ten years after playing a controversial role in the Asian financial crisis, the International Monetary Fund (IMF) is now in the midst of its own identity crisis. The six-decade old institution, which lent over USD 38 billion during a two-year period to Asian countries on the condition they adopt strict austerity measures, finds itself 10 years later shunned by many of the countries it had previously helped. AFP PHOTO/FILES/Argus LOLONG == WITH AFP STORY: ASIA-ECONOMY-CRISIS-IMF-10YEARS BY DAVID DIEUDONNE == / AFP PHOTO / AGUS LOLONG

August 10, 2018 6:00 PM (UTC+8)