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We provide you with coverage of important meetings, debates, and policy decisions. We want to make sure you have the necessary information to stay engaged. We encourage open discussions, and provide you with detailed information about local politics. We aim to keep you informed, so you can participate actively. Stay connected and stay informed with everything that is happening in Liverpool.
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Basically, these countries had borrowed a lot of money in US dollars, which looked great when their currencies were strong. But when investor confidence started to waver, things went downhill fast. It all began with the *devaluation of the Thai baht*. Thailand was forced to float its currency after running out of reserves to defend its peg to the US dollar. This sparked a wave of panic, and investors started pulling their money out of other Asian economies. The value of these currencies plummeted, making it much more expensive for these countries to repay their dollar-denominated debts.
