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Philippine central bank chief warns of 1997-style Asian financial crisis

By PulseAugur Editorial · [1 sources] ·

Eli Remolona, the governor of the Philippine central bank, warned that Asian countries must prepare for a potential repeat of the 1997 financial crisis. He highlighted the dangers of large capital inflows, which preceded the 1997 crisis and were mistakenly labeled the "East Asian miracle." Remolona urged ASEAN nations to actively guard against such economic shocks, noting that current efforts to prevent them are insufficient. The discussion took place during the IMF and World Bank annual meetings in Bangkok. AI

RANK_REASON The item is a commentary from a central bank chief discussing past economic events and potential future risks, rather than a new release, significant event, or research.

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AI-generated summary · Google Gemini · from 1 sources. How we write summaries →

Philippine central bank chief warns of 1997-style Asian financial crisis

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The item is a commentary from a central bank chief discussing past economic events and potential future risks, rather than a new release, significant event, or research.
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COVERAGE [1]

  1. SCMP — Tech TIER_1 English(EN) · Reuters ·

    Asia must guard against repeat of 1997 financial crisis: Philippine central bank chief

    Asian countries must remind themselves about what happened during the region’s financial crisis in the late 1990s and guard against a recurrence of such shocks, the head of the Philippine central bank said ‌on Wednesday. Before the Asian financial crisis started in 1997, regional…

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