Notes to the Prime Minister: The Untold Story of how Malaysia Beat The Currency Speculators
ISBN : 9789675997426
Author: Wong Sulong
Published Date: June 2011
By the end of September 1997, the Malaysian currency was being bashed mercilessly by international speculators and hedge funds and the Malaysian economy was in a tailspin. The local stock and property markets had crashed. It was the height of the Asian Financial Crisis. Thailand, Indonesia and South Korea were forced to seek huge financial rescue packages from the International Monetary Fund (IMF), submitting themselves to the stringent conditions imposed.
This book is about how Malaysia rejected the IMF solution and went its own way in solving the Financial Crisis. It’s a story of how two Malaysians – one out of luck, the other facing a major economic and political challenge – met half way round the world and came up with the Malaysian Solution to the Financial Crisis.