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02/07/1997 Thailand floats the baht

6:33

Financial crisis in Thailand caused by speculative attack | Macroeconomics | Khan Academy

9:23

Thailand Crisis 1997

1:27

Looking back at Asian financial crisis 20 years after

The crisis started in Thailand with the financial collapse of the Thai baht after the Thai government was forced to float the baht due to lack of foreign currency to support its currency peg to the U.S. dollar. Thailand had acquired a burden of foreign debt that made the country effectively bankrupt even before the collapse of its currency.
    • Essentials 

    • Credit bubbles and fixed currency exchange rates 

    • Panic among lenders and withdrawal of credit 

    • IMF role 

    • Countries affected 

    • Consequences