61. Suharto met in Jakarta Friday with Steven Hanke, an economist from Johns Hopkins University who has been a leading advocate of adopting a currency board. 62. Suharto resorted to the currency board out of apparent frustration over the economic orthodoxy of the IMF and his own advisers. 63. Testing the resolve of the nation with a currency board could prove a recipe for disaster. 64. The advocates of an Indonesian currency board point to its successful application in Hong Kong and Argentina. 65. The central bank in a country with a currency board is reduced to a clerical role. 66. The currency board has become a straitjacket. 67. The currency board allowed foreigners to invest without having to fear devaluation or inflation. 68. The currency board is a way to stabilize economically shaky nations. 69. The International Monetary Fund has favored the use of currency boards in some cases but discouraged them in others. 70. The government has agreed to introduce the currency board by the end of June. |
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