Government promises to amend laws on foreclosure

Article Abstract:

Thailand's fifth quarterly International Monetary Fund (IMF) agreement plans to implement stricter foreclosure laws for lender protection and hopes to settle a privatization schedule for government-owned companies. The IMF pact affords the government to receive the $473 mil rescue fund by August 1997 pending approval from the monetary agency in September 1998. Thailand has already received $11.1 from the total $17.2 bil-IMF financial aid. The foreclosure measure precedented in the agreement will revise the existing foreclosure law in the country.

Intnl Economic Policy, Analysis, Laws, regulations and rules, International economic relations, Foreclosure

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Bangkok turns to the IMF, but hard work lies ahead

Article Abstract:

Thailand has turned to the International Monetary Fund for credit, but tough sanctions that would require a restructuring of Thailand's economic policy are expected. The conditions attached include free convertibility of currency, tightened fiscal policy, a wage freeze, restructured bankruptcy laws, and a one-time bailout of the country's financial system. The move is expected to augment economic development and prevent the further depreciation of the Baht.

Public Finance Activities, Financial Administration-Natl Govt, Currency Stabilization Programs, International Monetary Fund, Finance, Economic development, Public finance, Currency stabilization

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Central Bank is in a bind: Thailand weighs move on finance companies

Article Abstract:

The Bank of Thailand is faced with a dilemma of managing cash-strapped finance companies Nava Finance and Union Asia Finance PCL. The Bank of Thailand is considering whether to merge the two companies with other institutions or to take over the two companies and SG Securities Asia strategist Sriyan Pietersz maintains that the risk is greater now than when the Bank of Thailand started separating viable from non-viable finance companies.

Personal credit institutions, Installment Sales Companies, Sales Financing, Business Aid Programs, Management, Planning, Commercial finance companies, Consumer finance companies, Central banks, Business assistance

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