The IMF blamed weak fundamentals for the onset of the Financial Crisis in Thailand and based its policy decisions on this view. The aid package sent to Thailand implicitly confined the Thai policy response to what the IMF had laid out. The IMF’s strategy to rapid recovery did not meet its aims, instead prolonging and deepening the recession in Thailand. The failure of the aid package can largely be attributed to misguided policies by the IMF, but the Royal Thai Government can be blamed for failing to pass adequate laws that were required to reform the economy.

Marrewijk, C. van
hdl.handle.net/2105/5003
Business Economics
Erasmus School of Economics

Ruitinga, R.J. (2007, February 16). An Analysis of the IMF Response to the 1997 Financial Crisis in Thailand. Business Economics. Retrieved from http://hdl.handle.net/2105/5003