Why baht's defense failed: Thailand's attempts were marked by missteps, delays and resentments
Article Abstract:
The Central Bank of Thailand's efforts to save the baht's value failed due to slip-ups, communications break-downs and personnel rivalries. The Central Bank resolved to defend the baht at any cost and this resulted in the rapid depletion of its foreign reserves within a matter of days and left Thailand with little left when the currency finally floated on Jul 2, 1997. The bank could have retreated with its foreign reserves but its decision depleted reserves that took the country 9 years to build up.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
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Thailand plans to open key sectors to foreigners
Article Abstract:
Informed sources disclosed that the Thai government is considering several changes to the country's Alien Business Law. The draft version of the new law, which is yet to be made public, reportedly opens to foreign participation several previously-restricted sectors such as achitecture and accounting. Although many are lauding Thailand's move, some quarters have also expressed concern over the new restrictions to be imposed under the new law.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1995
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Thailand offers investors surprise pledge: bank official proposes guarantee to foreigners taking over companies
Article Abstract:
The Bank of Thailand will provide a five-year money-back guarantee to foreign investors taking over ailing Thai banks and finance firms, according to the central bank's Deputy Governor Kitti Patpongpibul. The announcement mirrors the scuffle in the country to create a bank recapitalization scheme by the Aug 15, 1998 deadline guaranteed to the International Monetary Fund.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
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