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Mahathir Mohamad was Malaysia's prime minister during the 1997 Asian financial crisis, when he took the controversial decision to defy IMF advice on how to manage the situation. (Source photo by Tetsuya Kitayama) 
Market Spotlight

Mahathir: Deeper currency markets have cut risk of Asian financial crisis repeat

But former Malaysian PM says Sri Lanka is a lesson to region's governments

P PREM KUMAR, Nikkei staff writer | Malaysia

KUALA LUMPUR -- The depth of modern currency markets means a repeat of the 1997 Asian financial crisis is less likely, according to one of the political leaders who had to deal with its fallout.

Malaysia's former prime minister Mahathir Mohamad said a proliferation of currency-trading hedge funds and other players has made it harder to stage the speculative attacks of the kind he blames for triggering mayhem 25 years ago.

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