The second  11  Kochhar, Kalpana, Prakash Loungani, and Mark R. Stone, 1998, “The East Asian Crisis: Macroeconomic Developments and Policy Lessons,” IMF Working Paper, WP/98/128. 12  Feldstein, Martin, 1998, “Refocusing the IMF”, Foreign Affairs, Vol. 77, No. 2.
It is important that everyone, at home and abroad, recognizes that this is a sum that is not a game-changer in terms of the public finances. It represents about one year’s borrowing requirement at current rates. It is not destabilizing.