Asian Tiger in Currency Crisis

  • Share
  • Read Later
Blaming George Soros may no longer be enough for Indonesia. The country is set to take a cue from Thailand and the Philippines by turning to the International Money Fund for help, reports Money Daily. Although the rupiah held its own during the peak of the Asian currency crisis this summer - when Soros, the international financier and philanthropist, was supposedly having his way with the Southeast Asian markets - it has slipped dramatically in the last couple of weeks. Indonesian officials are now scrambling to pay off billions in dollar-denominated, short-term debt - and a major IMF loan may be their only solution.

  • For more on the markets, click on Money Daily