Thailand | South Korea | Indonesia | Malaysia | others | |
November | ・Announcement of Japan's intention to provide $5.0 billion financial assistance (The Second Line of Defense). (Nov. 1) | ||||
・Stand-By Arrangement for Indonesia approved by IMF Board . ($10.1 billion for 3 years, $3.0 billion approved to disburse.) (Nov. 5) | |||||
・Resignation of the Prime Minister Chavalit (Nov. 6) | |||||
・Inauguration of Prime Minister Chuan (Nov. 9) | |||||
・Financial market stabilization measures announced. (Nov. 19) | |||||
・Won/dollar foreign exchange trading band expanded from plus/minus 2.5% to 10%. (Nov. 20) | |||||
・An assistance from IMF requested by South Korea (Nov. 21) | |||||
・Japan-South Korea summit meeting. (Nov. 24) | |||||
・Japan-South Korea finance ministers' meeting. (Nov. 28) | |||||
December | ・A preliminary agreement on economic program reached between South Korea and IMF ・Announcement of Japan's intention to provide $ 10.0 billion in financial assistance (The Second Line of Defense). (Dec. 3) | ||||
・Stand-By Arrangement for South Korea approved by IMF Board.($ 21.0 billion for 3 years, of which $ 5.5 billion approved to disburse.) (Dec. 4) | |||||
・Fiscal expenditures cut and other emergency economic measures announced.(Dec. 5) | |||||
・Concrete measures based on financial restructuring plan of Oct. 14 announced. (56 of the 58 FCs to be resolved) (Dec. 8) ・The first review of Stand-By | |||||
・Additional measures implemented for financial market stabilization. (Dec. 10) | |||||
・President Suharto's absence from ASEAN summit announced (Dec. 12) | |||||
・Foreign exchange trading band for Won abolished (shift to independently floating). (Dec. 16) | |||||
・Disbursements ahead of schedule approved by IMF Board, of which $ 3.5 billion approved to disburse (Dec. 18) | |||||
・A loan for Financial Market Reform Program approved by ADB Board, which was immediately implemented ($300 million).(Dec. 19) | ・Kim Dae Jung won presidential election Bank of Japan provided bridge loan to Bank of Korea. (Dec. 19) | ||||
・A loan for "Financial Companies Restructuring" ($350 million) approved by World Bank (Dec. 23) | ・A loan for Financial Sector Program ($ 4.0 billion) approved by ADB board(Dec.19), of which $ 2.0 billion immediately disbursed (Dec. 23) ・The " Economic Restruction Loan" approved by World Bank Board, which was immediately disbursed ($3.0 billion) (Dec. 23) | ||||
・Statement by potential participants in the supplemental financial assistance: early and front-loaded disbursements by IMF and other international financial institutions, and of supplemental financial assistance (Dec. 24) | |||||
・Positive response to South Korean liquidity problems agreed among principal banks of Japan, U.S. and Europe . (Dec. 29) ・Financial Reform Bill enacted. (Dec. 29) | |||||
・Early and front-loaded disbursement approved by IMF Board. $ 2.0 billion approved to disburse (Dec. 30) | |||||
・The period of IMF's Extended Fund Facility for Philippines extended to the end of January. (Dec. 31) |
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