Commentary: Umesh Pandey
It may sound like rubbing it in to write three stories on one subject in a single publication, but then the issues raised by the International Monetary Fund (IMF) during a recent visit to Thailand by its senior staff are worrisome.
Naoyuki Shinohara, the IMF’s deputy managing director, took the lead in warning various government and central bank officials at meetings in Bangkok last week about the possibilities of inflows of “hot money”.
The IMF warned that there were countries in the region that were especially vulnerable to impact from outflows of funds. Accordingly, it recommended they consider short-term measures to halt the inflow of volatile funds that could just as easily leave their countries days later.
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