In fact, it is striking that the majority of recent IMF arrangements are with countries that had some form of managed exchange rate regime on the eve of the crisis in 2007 (see Chart 1). This pattern ...

Solid data were not yet available because the floating rate had only recently replaced the managed exchange rate. So we used some back-of-the-envelope calculations. We assumed a pass-through ...

the central bank is confident that the ringgit would rebound and reflect its fundamentals once the United States raised its interest rates.