The IMF monthly disbursements of close to a billion dollars will continue for a few more months, but then will taper off. T he relative monetary stability has not been supported as yet by resumption of private flows. This is still uncertain, but there is a chance. The Japanese and the Americans have tabled significant aid initiatives at the last APEC summit. Of course actual flows will depend on whether the self help measures of the Asian countries instill confidence.
T here are also early signs of abatement of the Asian financial crisis.
The IMF is confident that Korea will resume positive growth sometime next year and Thailand will follow suit. The prospect for Indonesia is still much more uncertain because of the political situation. But at least Indonesia could benefit from an improved sentiment in the international market. B ut this improved international prospect is still full of question marks. First of all, it will depend on whether the stimulative measures by the Japanese government to reflate its economy will have the desired effects.