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Past IMF bail-outs have encouraged risky lending in Asia

Past IMF bail-outs have encouraged risky lending in Asia

By John Plender   February 1998

The capacity for collective memory loss in the banking community inspires awe and wonder in equal measure. Over the past 25 years the banks have bombed in property (mid-1970s), wrecked Latin America (1980s), bombed again in property (first half of the 1990s) and gone overboard in Asia (second half of the 1990s). Yet despite this remarkable tally the cavalry, in the shape of the IMF, has once again come over the hill in time to rescue them from the consequences of their folly. So the banks may not lose their shirts; but we lose ours, because the rescue bill falls…

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