International Finance: Actions Taken to Reform Financial Sectors in Asian Emerging Markets

Pursuant to a congressional request, GAO analyzed the efforts to improve the financial sectors of the emerging market countries of Indonesia, South Korea, and Thailand, focusing on: (1) the nature of weaknesses in the countries' financial sectors; (2) the extent to which the countries have achieved reforms in their financial systems; (3) the extent to which the countries have implemented international principles for banking supervision; and (4) U.S. government and multilateral institutions' efforts to effect changes in the financial sectors of these emerging markets.