gained a narrow victory Not too long in his premiership, Chavalit was confronted by
the Asian Financial Crisis in 1997 – dubbed “Tomyam Kung
crisis” - วิกฤตต้มยํากุ้ง . Protests, mostly by businessmen and
strong criticism for his handling of the crisis, Chavilit
resigned in November 1997.
• Chuan returned to power, and came to an agreement with
the International Monetary Fund which stabilised the
currency and allowed IMF intervention on Thai economic
recovery.