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Hiccup? Or Global Meltdown?
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If export markets dry up, U.S. investments in emerging markets continue to fall and currency devaluations make imports cheaper than domestic goods, can America really continue to ride through the crisis? Maybe IMF bailouts will stem disaster.
The IMF to the rescue
The International Monetary Fund, concerned about Asia's ability to recover, pledged aid to the region:
CREDIT FOR AILING ECONOMIES IN ASIA
Philippines: Extended a three-year credit of $652 million set to come due; additional credit of $435 million in July
Thailand: In August approved a standby credit of $3.9 billion over a 34-month period
Discuss