Thailand | Indonesia | Malaysia | Philippines | others | |
September | ・ Restrictions on own-stock purchases eased ahead of schedule. (Sept. 1) | ||||
・ Economic measures approved in the monthly meeting of economic ministers (Sept. 3) | ・ The fund for stabilizing stock prices announced by the prime minister (Sept. 3) | ・ Central bank's announcement of liquidity reserve ratios lowered (Sept. 3) | |||
・ Deliberation of constitutional amendment begun by the Parliament. (Sept. 4) | ・ Interest rates lowered by the central bank (Sept. 4) | ・ Postponement of infrastructure projects and reduction of luxury imports announced. (Sept. 4) | |||
・ Restriction on short selling lifted. (Sept. 5) | |||||
・ Joint non-confidence motion submitted by the Democratic party and three other opposition parties. (Sept. 8)・ New Baht stabilization plan announced, including stricter foreign capital restrictions. (Sept. 8)・ Liquidity improvement measures announced, including lower deposit reserve ratio. (Sept. 8)・ Guidelines announced for restructuring 58 suspended FCs. (Sept. 8) | |||||
・ Interest rates lowered. (Sept. 9) | |||||
・ Action plan for ameliorating short-term impact of Peso depreciation on the economy formulated by Department of Trade and Industry (Sept. 10) | |||||
・ The "Financial Sector Implementation Assistance Project" ($ 15 million) approved by World Bank Board (Sept. 11) | ・ The measure for reduction of current account deficit announced. (Sept. 11) | ||||
・ Prime minister's meeting with foreign fund managers (Sept. 14) | |||||
・ Announcement of the president's retirement at the end of term in June 1998 (Sept. 15) | |||||
・ Management crisis of domestic electrical equipment manufacturer surfaced. (Sept. 16) | |||||
・ The prime minister criticized speculators. (Sept. 20) | |||||
・ Meeting for opposing constitutional amendment. (Sept. 21) | |||||
・ Interest rates lowered. (Sept. 22) | |||||
・ Run on major FC (MBf) (quickly normalized) (Sept. 24) | |||||
・ Non-confidence vote for the prime minister defeated and constitutional amendment enacted. (Sept. 27) | |||||
October | ・ Foreign exchange trading band for Peso reinstated. (Oct. 7) | ||||
・ Assistance from IMF requested by Indonesia.Negotiations with IMF begun (Oct. 8) | |||||
・ Financial restructuring plan announced. (Oct. 14) | |||||
・ Fiscal 1998 national budget announced. (Oct. 17) | |||||
・ The resignation of finance minister and others announced (Oct. 19) | |||||
・ Hong Kong stock market downed sharply (10.4% from previous day) and interest rates rose. (Oct. 23) | |||||
・ Cabinet reshuffled. Finance Minister Kosit appointed. (Oct. 24) | |||||
・ New York stock market downed sharply(7.2% from previous day). (Oct. 27) | |||||
・ Hong Kong stock market downed sharply (13.7% from previous day). New York stock market recovered (up 4.7% from previous day). (Oct. 28) | |||||
・ Hashimoto-Suharto telephone conference. (Oct. 29) | |||||
・ Economic policy package announced.A preliminary agreement on economic program reached between Indonesia and IMF Financial assistance by IMF, World Bank,ADB and others (totaling $ 23.0 billion) announced (Oct.31) |
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