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제목USA: PUBLISHER STEVE FORBES CRITICISES IMF BAIL OUT OF SOUTH KOREA
설명One of America's leading businessman, millionaire publisher Steve Forbes has strongly criticised the I-M-F bail out of South Korea. The former Republican candidate for President, told reporters on Sunday the wrong formula was being used to aid ailing Asian economies - and was making a bad situation worse. Forbes made his comments the day after the International Monetary Fund (I-M-F) released its most extensive assessment of the currency crisis across Asia. The lending agency has had to assemble multibillion-dollar bailout packages for Thailand, Indonesia and South Korea. And the I-M-F predicts that the financial fire-storm raging through Asia will leave no country untouched in 1998. But Steve Forbes, publisher of the Forbes financial magazine and former Republican candidate for President, says the I-M-F approach has been wrong. SOUNDBITE: (English) "Unfortunately their prescriptions have made the situation worse not better, so its not just a bail out - they have the wrong prescription - tax increases, devaluations. If they had the right prescriptions this crisis would have been over months ago. Q: Is this simply a matter of doing for Asia what they tried to do with Mexico? A: Well they did the wrong thing with Mexico - they bailed out the creditors, they bailed out the investors instead of propping up the Mexican peso so as a result those who speculated go out whole - the Mexican people were hurt, the effective standard of living was cut by a third - drug dealing went up, illegal immigration went up ... it was a poor model and I'm sorry to see that they are applying it to Asia." SUPER CAPTION: Steve Forbes, Chairman Forbes Inc. Because of the rapidly deteriorating situation, the I-M-F updated its October "World Economic Outlook" with new economic projections for 1998. I-M-F economists said the sharp growth slow-downs, coming after two decades of rapid growth in Asia, will feel like deep recessions. SOUNDBITE: (English) "What the solution should be is very simple - give them the right advice - that is stabilise their currency, tie it back to the dollar. Hong Kong has done it for years, other countries have done it - there are ways to do it and reduce the tax burden internally, open the economies up so they can get foreign investment and this crisis would dissipate very quickly - would disappear very quickly. Q: Are we looking at a worse case situation? Can the markets tumble even further? A: If they continue to man handle and mishandle the situation - yes the situation can get worse but I think that it is very clear that even when Japan proposed a small tax cut how relieved the markets where - people were looking for effective relief. If that relief is provided then the crisis is over." SUPER CAPTION: Steve Forbes, Chairman Forbes Inc. Traders in stock markets throughout Asia would share the U-S millionaire's hopes that the financial crisis is ending - and they can look forward to a more prosperous new year. You can license this story through AP Archive: http://www.aparchive.com/metadata/you... Find out more about AP Archive: http://www.aparchive.com/HowWeWork
생산자AP Archive
날짜1997-12-21
기록유형동영상
기록형태영상클립
주제IMF협상
연관링크https://youtu.be/jtNTcqA7LQ8
식별번호KC-R-05371
제목USA: PUBLISHER STEVE FORBES CRITICISES IMF BAIL OUT OF SOUTH KOREA
설명One of America's leading businessman, millionaire publisher Steve Forbes has strongly criticised the I-M-F bail out of South Korea. The former Republican candidate for President, told reporters on Sunday the wrong formula was being used to aid ailing Asian economies - and was making a bad situation worse. Forbes made his comments the day after the International Monetary Fund (I-M-F) released its most extensive assessment of the currency crisis across Asia. The lending agency has had to assemble multibillion-dollar bailout packages for Thailand, Indonesia and South Korea. And the I-M-F predicts that the financial fire-storm raging through Asia will leave no country untouched in 1998. But Steve Forbes, publisher of the Forbes financial magazine and former Republican candidate for President, says the I-M-F approach has been wrong. SOUNDBITE: (English) "Unfortunately their prescriptions have made the situation worse not better, so its not just a bail out - they have the wrong prescription - tax increases, devaluations. If they had the right prescriptions this crisis would have been over months ago. Q: Is this simply a matter of doing for Asia what they tried to do with Mexico? A: Well they did the wrong thing with Mexico - they bailed out the creditors, they bailed out the investors instead of propping up the Mexican peso so as a result those who speculated go out whole - the Mexican people were hurt, the effective standard of living was cut by a third - drug dealing went up, illegal immigration went up ... it was a poor model and I'm sorry to see that they are applying it to Asia." SUPER CAPTION: Steve Forbes, Chairman Forbes Inc. Because of the rapidly deteriorating situation, the I-M-F updated its October "World Economic Outlook" with new economic projections for 1998. I-M-F economists said the sharp growth slow-downs, coming after two decades of rapid growth in Asia, will feel like deep recessions. SOUNDBITE: (English) "What the solution should be is very simple - give them the right advice - that is stabilise their currency, tie it back to the dollar. Hong Kong has done it for years, other countries have done it - there are ways to do it and reduce the tax burden internally, open the economies up so they can get foreign investment and this crisis would dissipate very quickly - would disappear very quickly. Q: Are we looking at a worse case situation? Can the markets tumble even further? A: If they continue to man handle and mishandle the situation - yes the situation can get worse but I think that it is very clear that even when Japan proposed a small tax cut how relieved the markets where - people were looking for effective relief. If that relief is provided then the crisis is over." SUPER CAPTION: Steve Forbes, Chairman Forbes Inc. Traders in stock markets throughout Asia would share the U-S millionaire's hopes that the financial crisis is ending - and they can look forward to a more prosperous new year. You can license this story through AP Archive: http://www.aparchive.com/metadata/you... Find out more about AP Archive: http://www.aparchive.com/HowWeWork
생산자AP Archive
날짜1997-12-21
언어영어
출처youtube
연관링크https://youtu.be/jtNTcqA7LQ8
기록유형동영상
기록형태영상클립
대주제IMF협상
소주제1차협상
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