IMF approves stand-by arrangement

I am not sure this IMF arrangement is a good thing. I always thought a country's currency should be allowed to fall (or rise) to a level that accurately reflects its economic position vis-a-vis other countries.

Artificially propping up a currency will only make exports less competitive. And this artificial obstacle is the last thing the country's exporters need.

The only time when intervention measures are paramount is when a currency comes under sustained attack by speculators, like what that Hungarian-American Soros did to the Thai baht in 1997.

I am not sure this IMF arrangement is a good thing. I always thought a country's currency should be allowed to fall (or rise) to a level that accurately reflects its economic position vis-a-vis other countries.

Artificially propping up a currency will only make exports less competitive. And this artificial obstacle is the last thing the country's exporters need.

The only time when intervention measures are paramount is when a currency comes under sustained attack by speculators, like what that Hungarian-American Soros did to the Thai baht in 1997.