Asia must be on guard for speculators

Asia must be on guard for speculators

KUALA LUMPUR (Reuters): Malaysian Deputy Prime Minister Anwar
Ibrahim said Asian countries must act to protect the region from
currency speculators and manipulators, local media reported on
yesterday.

He said the governments of the countries most affected by
currency depreciation in recent months should continue to push
for a fairer currency trading and monetary system, the reports
said.

Speaking at a dinner in honor of visiting Indonesian Vice-
President B.J. Habibie on Saturday, Anwar also said Asian
countries experiencing economic troubles should not be left to
the mercy of external forces.

He said these countries should be given the freedom to chart
their own course and that of the region.

Anwar said that although Indonesia was doing its best to
overcome its economic problems, the media continued to portray
the country negatively.

In his speech, Habibie agreed that the media did not present a
fair picture of the economic problems in Indonesia.

"I am branded as a pro-German, anti-Christian and anti-
Chinese, all of which are untrue," he was quoted by the New
Straits Times newspaper as saying.

Habibie said Indonesia was confident it would emerge from its
problems soon and was working towards that end.

Habibie, who is on an overnight visit to Malaysia, will meet
Malaysian Prime Minister Mahathir Mohamad later on Sunday before
flying to London for the second Asia-Europe Meeting scheduled for
Thursday through Saturday.