Subject category:
Economics, Politics and Business Environment
Published by:
Tecnologico de Monterrey
Version: 21 October 2009
Length: 16 pages
Data source: Published sources
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https://casecent.re/p/100440
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Abstract
In early 1999, the world in general and Latin America in particular, were being beaten by the aftershocks of the Southeast Asian Crisis of 1997, which had forced many countries to resort to the International Monetary Fund (IMF) for different types of interventions. Colombia showed concern macroeconomic indices, as the economic paralysis resulted in serious problems in public finances. The country was discussed during the first half of 1999 the necessity of recourse to the IMF. Initially, the finance minister, Juan Camilo Restrepo, said that this would not happen, relying on a series of tightening measures taken by the national government. However, during the second half of the year was evident that the government negotiate a stand-by loan with the institution, which finally happened in December. In this context it may value the economic and political significance of the interventions of the IMF, given that many of the commitments of the Extended Agreement signed in December 1999 were being implemented by the national government since mid-1999. It should compare the two obvious options that the Colombian government had, resort or not the IMF, and the effects of each.
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Abstract
In early 1999, the world in general and Latin America in particular, were being beaten by the aftershocks of the Southeast Asian Crisis of 1997, which had forced many countries to resort to the International Monetary Fund (IMF) for different types of interventions. Colombia showed concern macroeconomic indices, as the economic paralysis resulted in serious problems in public finances. The country was discussed during the first half of 1999 the necessity of recourse to the IMF. Initially, the finance minister, Juan Camilo Restrepo, said that this would not happen, relying on a series of tightening measures taken by the national government. However, during the second half of the year was evident that the government negotiate a stand-by loan with the institution, which finally happened in December. In this context it may value the economic and political significance of the interventions of the IMF, given that many of the commitments of the Extended Agreement signed in December 1999 were being implemented by the national government since mid-1999. It should compare the two obvious options that the Colombian government had, resort or not the IMF, and the effects of each.