The financial crisis that erupted across Southeast Asia during the fall of 1997 emerged as the biggest challenge to date for the IMF.

Name: The financial crisis that erupted across Southeast Asia during the fall of 1997 emerged as the biggest challenge to date for the IMF.
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The statement is true. The financial crisis that began in Southeast Asia in 1997 was a major challenge for the IMF, as it required significant financial intervention to stabilize the affected economies.

The Financial Crisis That Erupted Across Southeast Asia During the Fall