Why Is the IMF, the “Grim Reaper” of Korea’s Currency Crisis 30 Years Ago, Envious of South Korea? - 아시아경제
Why Is the IMF, the “Grim Reaper” of Korea’s Currency Crisis 30 Years Ago, Envious of South Korea? - 아시아경제
Source: 아시아경제
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DW NOTE
The IMF demanded Korea dismantle its conglomerates, float the won, and open capital accounts in 1997 in exchange for a $58 billion bailout. Twenty-nine years later, Korea runs a current account surplus, holds $420 billion in reserves, and the IMF holds it up as a model. That's not envy — that's an institution claiming credit for a recovery it nearly derailed.