Updates from the Managing Director

[LOIMOU] Muhammad 2  

[LOIMOU] Bidaya 4  

[LOIMOU] Grilli 1  

The lack of a solution to the BOP crisis in Japan has exacerbated the  collapse of the fragile Asian tiger economy April 4th, 1998 - TOKYO With the yen’s value depreciating rapidly as part of the bursting of the asset bubble, and inaction following  this, has expedited the decline of the once great Japanese trade economy. The yen has dropped a further  13.2% since the previous update by the Japanese Central Bank on February 15 this year, and overall  (foreign and domestic) investment has fell by a staggering 7.9% in the past 2 months. Consumers fear the  Japanese economy, and this has led to a bewildering amount of retrenchment and bankruptcies in Japan,  with unsustainable loans no longer repayable.  With no hope for an adjustment of exchange/interest rates nor any changes in trade policy to manage  imports and exports, the balance of payments crisis is only likely to worsen, furthering the already dismal  level of investment in Japan. Soon,...