Yingluck orders rebuttal of Moody's grim view of rice scheme | Bangkok Post: news

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Moody's rice report to be rebutted

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Moody's Investors Service's credit-negative report on the rice pledging scheme is wrong, Prime Minister Yingluck Shinawatra said on Tuesday, and the government will issue a report explaining why. 

Ms Yingluck said the latest information on the scheme - one of the most controversial flagship policies of the ruling Pheu Thai Party - will be used to rebut the rating agency's viewpoint.

Moody's on Monday warned that accumulated and potential losses from what it termed the "rice buying scheme"  will make it harder for the government to reach its goal of a balanced budget by 2017 and are a negative factor in Thailand's credit rating.

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