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    Question

    East Asian Financial Crisis occurred in the year:

    A 1992 Correct Answer Incorrect Answer
    B 1995 Correct Answer Incorrect Answer
    C 1997 Correct Answer Incorrect Answer
    D 2003 Correct Answer Incorrect Answer
    E 2008 Correct Answer Incorrect Answer

    Solution

    The 1997 East Asia Financial Crisis affected most ‘tiger’ economies of South East Asia. This was trigger due to rapid outflow of foreign currency by investors. These countries had 100% convertibility in both capital and current account. But they did not have enough forex reserve to pay for this massive outflow. There were some other reasons as well.  

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