The International Monetary Fund’s 1997 rescue package for Thailand during the Asian financial crisis was worth approximately $17.2 billion.
Thailand requested international assistance after pressure on the baht became unsustainable. On 2 July 1997, the country abandoned its fixed exchange-rate regime and allowed the baht to float. The currency then depreciated sharply, exposing banks and companies that had borrowed heavily in foreign currencies.
The IMF-led package combined support from the IMF, other international institutions and several countries. In return, Thailand accepted economic conditions that included financial-sector reforms, fiscal measures and restructuring of troubled institutions. The crisis spread across East and Southeast Asia, affecting Indonesia, South Korea, Malaysia and other markets.
The $17.2 billion figure refers to the overall support package associated with Thailand, not solely an IMF cash transfer. This distinction matters because international rescue programs commonly combine IMF lending with bilateral and multilateral commitments. The Thai crisis is therefore a useful example of how a currency defense problem can become a banking and stock-market crisis.