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Federal Reserve Bank of Minneapolis - The Region - Stanley Fischer Interview (December 1999) (Site not responding. Last check: 2007-10-20) |
 | | FISCHER: It turns out that in every one of the major crises of the last five years, Mexico '94, and Thailand, Indonesia and Korea, Russia and Brazil, the country had a fixed or pegged exchange rate in place prior to the crisis. |
 | | FISCHER: That's a difficult issue, but it has to be realized that there is no IMF agreement with a country unless that country's government agrees, and unless the Executive Board of the IMFrepresenting our 182 members, and thus the international communityapproves. |
 | | FISCHER: Basically by a formula related to their role in the world economy; for example, the U.S. share is about 17.5 percent, Japan about 6.5 percent. |
| woodrow.mpls.frb.fed.us /pubs/region/99-12/fischer.cfm?js=0 (6079 words) |
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