Mark Mobius: Lessons Of The AFC

Mark Mobius, the executive chairman of Templeton Emerging Markets Group, recently wrote a short blog post reflecting on some of the lessons learnt from the Asian Financial Crisis. MobiusĀ has spent more than 40 years working in emerging markets all over the world. He joined Franklin Templeton in 1987 as president of the Templeton Emerging Markets Fund, Inc.

In his view, the key takeaway from the crisis was that central banks and governments should not try to go against market forces and control foreign exchange rates. He also believes that “governments and individuals should not take out debt in currencies other than the currency which is their main source of income without fully understanding the risks behind it.” Finally, on Thailand, he thinks the country is in much better shape than it was twenty years ago.

You can read the full post here.