The initiative for determining the problem and the conditions would be the IMF's. Then we had a very formal discussion with Japan. We discussed it further during the World Bank-IMF meeting in Hong Kong. We might as well help each other. Well, maybe nobody if there's no country in trouble.
People begin to think there's an actual pool of money and an institution around it.
For the Philippines, yes, because we do not have a very wide current account deficit, nor a debt structure that is predominantly short term and, therefore, falling due very quickly, nor a banking crisis. These elements are present in Thailand and Indonesia. All Rights Reserved. Terms under which this service is provided to you. Read our privacy guidelines .