In part, this may reflect the lower importance attached to the role of finance per se, and, in part, simply the lack of adequate donor funds forthcoming. Despite BIS Review 54/1997  -6-  this, however, Eastern Europe is on the right track.
At the same time, movements in exchange rates have come to be linked with the evolution of imbalances. Given the relative fixity of some Asian currencies vis-à-vis the US dollar, from time to time, this has led to sharp upward movements in the value of the euro.