IMF joins rice scheme critics | Bangkok Post: opinion

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IMF joins rice scheme critics

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The International Monetary Fund (IMF) has joined a long list of critics which include the World Bank, Moody's Investor Services and the Thailand Development Research Institute in opposing the government's populist rice-pledging scheme. 

In its annual review of Thailand's economy, the IMF says the populist scheme has accumulated losses of at least US$4.46 billion since it was introduced in 2011.

It warned that confidence in the country's finances would be undermined if the policy remains unchanged and urged the scheme and other generalised subsidies be replaced with programmes that are targeted at vulnerable groups, including low-income farming households.

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