Data prior to 1996 unavailable Sources: CEIC; IMF; Thomson Financial  At its heart, the Asian crisis was a banking crisis brought on by banks and their customers taking on too much foreign currency risk. No doubt macroeconomic policies were not always perfect, but the real problems were in the financial structure more than the macroeconomic settings.
It is an indeed very exciting time – watching the developments, albeit small, that are taking place in our financial system. We hope that after a few such training sessions we will soon see our exporters proactively seeking ways to hedge their risks. We have an exchange in Mauritius which is properly licensed and regulated, where there is price transparency.