Debt menace looms | Bangkok Post: news

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Flying baht prompts top brass meet

Former ministers warn of looming debt menace

The soaring value of the baht prompted Prime Minister Yingluck Shinawatra to meet top government officials yesterday.

After the meeting Ms Yingluck played down fears over the currency's rapid appreciation, saying so far the strengthening of the baht posed no risks to the economy.

Ms Yingluck met Finance Minister Kittiratt Na-Ranong, Bank of Thailand (BoT) governor Prasarn Trairatvorakul and National Economic and Social Development Board (NESDB) secretary-general Arkhom Tempitayapaisit.

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  • nowayout

    ThailandPost : 415

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    Discussion 5 : 24 Jan 2013 at 06.485

    "He said the increase in inflows was the result of high market confidence in the government's economic policies.." I don't believe that's the reason. I think this is a bubble about to burst.

  • boons

    United StatesPost : 664

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    Discussion 4 : 24 Jan 2013 at 06.474

    D1: With respect, you seem a bit confused. The US president has nothing to do with the money supply. Nor do China and Germany's gold purchases (or recent repatriation in the case of Germany) have anything to do with active currency dynamics, so the suggestion that Thailand "buy gold" has little to do with the issue at hand. Nor does Thailand need or want a gold currency base when the problem is a baht that is too expensive to support an 80% export economy (Thailand hardly needs a hard asset to back the baht when the issue is a baht which is too valuable).

  • oldairman

    ThailandPost : 742

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    Discussion 3 : 24 Jan 2013 at 06.253

    I am afraid to say that I read carefully the things that the Finance Minister Kittiratt Na-Ranong says and believe the opposite. I suspect that Yingluck says what she is told to say by her brother and I also suspect her understanding of high finance is more concerned with the price of handbags that how the countrys economy works. That is reasonable enough as she really doesn't need to know as she has "advisors" to keep her in touch.

  • mr.meldrew

    ThailandPost : 486

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    Discussion 2 : 24 Jan 2013 at 06.142

    "currency closing yesterday at 29.77 baht to the US dollar, surging in value from 31.36 baht to the dollar on the same date last year? How can going down be classed as surging?

  • spiceman

    United StatesPost : 3,487

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    Discussion 1 : 24 Jan 2013 at 05.471

    Thai Baht is getting stronger because the US Dollar is getting weaker. And as long as Mr Obama continues to print the Dollars out of thin air by the trillions 24/7 indefinitely, this trend will continue. So, Thailand should do what Germany and China have been doing, which is to buy more gold. With Uncle Sam going down for the count, the return of the old Gold Standard seems inevitable!

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