03/12/1997 South Korea strikes $55bn bailout with IMF
SOUTH KOREA: IMF OFFICIALS ARRIVE FOR FINANCIAL CRISIS TALKS
South Korea - Financial crisis
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USA: PUBLISHER STEVE FORBES CRITICISES IMF BAIL OUT OF SOUTH KOREA
The IMF was expected to contribute $20bn to a $55bn bailout package with the balance coming mainly from Japan, the USA, and the Asian Development Bank. In return, the IMF insisted on the restructuring of South Korea's inadequate financial institutions.
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