The crisis, which has affected five countries in particular -- Thailand, Indonesia, Malaysia, the Philippines and South Korea -- is basically the result of the persistence of large external current account deficits ranging from 3 to 6 per cent of GDP and the consequent rapid accumulation of foreign debt. These countries’ budgets are generally close to balance and their public debt is limited.
Here in Saskatchewan, we have spoken with firms whose investment plans are in flux pending more clarity  5  Mortgages in Canada with a loan-to-value ratio of 80 per cent or below do not require governmentguaranteed mortgage default insurance. 6  Other temporary factors pushing inflation above 2 per cent are the effects of minimum-wage increases and exchange rate pass-through. -5about NAFTA.