For the most part, the Asian financial crisis seems to be under control. However, for the IMF, which played a central role in managing this crisis as well as the previous one in Mexico, effort has evidently not been rewarded. The drove of critics is growing continuously and the call to reform or even dissolve the IMF is getting louder and louder. This, although the IMF has been quite open-minded towards reforms and is working on a new financial architecture. Many critics, however, doubt that the chosen path is the right one. Looking closer at the Asian crisis management, one is inclined to join ranks with the sceptics.
Full article available only as PDF