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Making Foreign Investment SafeProperty Rights and National Sovereignty$
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Louis T. Wells and Rafiq Ahmed

Print publication date: 2007

Print ISBN-13: 9780195310627

Published to Oxford Scholarship Online: May 2007

DOI: 10.1093/acprof:oso/9780195310627.001.0001

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 Paiton I: Promises Fail

 Paiton I: Promises Fail

Chapter:
(p.159) 11 Paiton I: Promises Fail
Source:
Making Foreign Investment Safe
Author(s):

Louis T. Wells (Contributor Webpage)

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780195310627.003.0012

Following several years of very strong economic growth, Southeast Asia's long boom came to an abrupt end. The first alarm sounded when Thailand's currency was devalued in July of 1997. As the financial crisis spread through the region, Indonesia was hit hardest of all. The collapse of the Indonesian rupiah brought down all twenty-seven of the electric power agreements that had so recently been concluded. Their debt-like characteristics made absolutely sure of this.

Keywords:   Indonesia, Asian Currency Crisis, rupiah, power projects, power agreements

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