I am confident, however, that the Asian economies struck by crisis will emerge strong and vigorous from the measures they are undertaking, and that the international community will be responsive to the lessons it has learnt from your experience. BIS Review 30/1998  ˝
It should be recognised that the self corrective mechanism in foreign exchange markets seen in developed countries is conspicuously absent presently among many emerging markets. It is also necessary to recognize that developing countries face major challenges in their effort for sustained economic growth which could enable them to make a significant impact on poverty reduction.