Many people in the region experienced significant difficulties during the Asian financial crisis of 1997-1998. At that time, funds and others extend the financial agreement large enough to give breathing room to implement reforms but necessary depth. Since then, many of these economies have suffered from the crisis has done quite well. Resilience of Asia in the global financial crisis recently attests to the enduring benefit of the often-difficult reforms implemented during the past 15 years.
The Fund learned important lessons from the Asian crisis. The Fund recognizes that, while the deep economic problems requires significant measures, the conditions associated with its programs should be selective and focused more narrowly on the issues at hand. Furthermore, the Fund has become more harmonious with the social impact of their programs. It has sought to apply the lessons and for more programs to its recent lending worldwide giớ
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