In 1997, Thailand was in economic crisis with the devaluation of the Thai Baht.

1997年时，泰国经受到了经济危机，泰铢贬值。

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A devaluation would spare them the grinding wage deflation needed to price the unemployed back into work (though it would not address the economic weaknesses that lie behind poor competitiveness).

货币贬值将会使他们不需要降低失业者重回工作岗位的工资(尽管它将不会解决无力经济竞争后的经济衰弱问题)。

youdao

(fade away) Expectations for economic recovery faded away when devaluation occurred again.

货币再次出现贬值，经济复苏的期望随之远去。

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That does not mean the IMF, whose economic prescriptions of devaluation and higher taxes are always toxic.

FORBES: Powerful Peace Weapon: Free-Market Prosperity

The woes were exacerbated after Argentina endured an economic collapse and devaluation of the peso in 2001-2002.

WSJ: Argentine Train Slams Into Station, Injuring Hundreds

By contrast, the 1994 devaluation barely slowed economic growth.

ECONOMIST: One river, one country