When I interviewed Stiglitz, he told me that the SK's largely ignored the IMF's conditions, which is why their economy recovered.
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Yes, exactly.
And the really cool part of the story, as told by my bro-in-law, are the various ways the S. Koreans kept the IMF at bay. It reminded me of the tale of how Orson Welles handled RKO execs during the filming of "Citizen Kane" -- making the movie he really wanted to film right under their noses, then putting on a sort of shell film in progress for the studio execs whenever they decided to stop by to see how things were going.
By the time they caught on, the movie was made and they had to promote it. I think the IMF is in a similar public relations position relative to Seoul; by the time they realised they were being almost totally ignored, the loan was paid off and they had to declare it an IMF-engineered success.
I wish every country could do the same.
.d.