All of these policies helped countries in Asia overcome the financial crisis that they suffered in 1997–1998 EXCEPT:the promise from the governments of crisis countries to end "crony capitalism."the promise from the governments of crisis countries to reform their banking systems.loans from the International Monetary Fund.debt forgiveness by the United States.
Question
All of these policies helped countries in Asia overcome the financial crisis that they suffered in 1997–1998 EXCEPT:the promise from the governments of crisis countries to end "crony capitalism."the promise from the governments of crisis countries to reform their banking systems.loans from the International Monetary Fund.debt forgiveness by the United States.
Solution
The statement that did not help Asian countries overcome the financial crisis of 1997-1998 is "debt forgiveness by the United States." The United States did not forgive the debts of the crisis-stricken Asian countries during this period. Instead, the International Monetary Fund (IMF) provided loans to these countries, which were accompanied by conditions such as ending "crony capitalism" and reforming their banking systems. These measures were aimed at stabilizing the economies of these countries and restoring investor confidence.
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