IMF hails Thai economy 10 years after crisis
Monday, 30 July 2007
BANGKOK, July 29 (AFP): A decade after the 1997 Asian financial crisis, Thailand's economy looks strong with robust fundamentals, the International Monetary Fund said Saturday.
"Recent economic activity has moderated, but Thailand's macroeconomic fundamentals -- a current account surplus, a sustainable fiscal position and low inflation -- remain strong," IMF chief Rodrigo Rato told a news conference in Bangkok.
"We expect consumer and business confidence to strengthen and support domestic demand once elections take place at the end of this year," Rato said, adding a recent capital influx would unlikely bring another crisis.
Thailand's military-installed government, which came to power after last year's coup, has promised to hold elections later this year, following an August referendum to approve an army-backed constitution.
"Recent economic activity has moderated, but Thailand's macroeconomic fundamentals -- a current account surplus, a sustainable fiscal position and low inflation -- remain strong," IMF chief Rodrigo Rato told a news conference in Bangkok.
"We expect consumer and business confidence to strengthen and support domestic demand once elections take place at the end of this year," Rato said, adding a recent capital influx would unlikely bring another crisis.
Thailand's military-installed government, which came to power after last year's coup, has promised to hold elections later this year, following an August referendum to approve an army-backed constitution.