Whatever the reason behind the misjudgement, it had important implications for the structure of the IMF package. If the current account was to remain in deficit, then how can Thailand recover from its bankruptcy position in terms of foreign currency? Basically, the program had to rely on tight fiscal and monetary policy to control the current account, the generation of a high rollover rate of short-term foreign debt, and also the attraction of new medium to long-term investments through foreign buyouts of domestic enterprises and privatisation of state enterprises.