"The paper describes the main features of the policies instituted by the Malaysian government in response to the financial crisis of 1997-99. An innovative mixture of policies relating to stabilizing the exchange rate, selective capital controls, counter-cyclical macroeconomic policies, and the revival of financial institutions and corporations was adopted. This set of policies was unorthodox as they were contrary to the usual policy mix that the International Monetary Fund (IMF) has been prescribing."