Chartchai Parasuk
Freelance economist
Chartchai Parasuk, PhD, is a freelance economist.
The economy is sick and pills won't do
Picture this: Your name is "Mr Thai Economy", and you have contracted the coronavirus in late January. After a close examination in March, doctors (the Bank of Thailand) said your health is of deep concern as GDP growth could go as low as -5.3%.
THAI restructuring will not be easy
While I was the head of the Corporate Finance Department at National Finance (now known as Thanachart Bank), I handled many cases of debt restructuring. The largest one was the 20-billion-baht debt of a hospital chain.
Homework for the new bank governor
The term of the governor of the Bank of Thailand will expire on Sept 30 and as incumbent governor Veerathai Santiprabhob has announced he will not seek a second term citing family reasons, the selection process for his replacement has begun.
What docs, economists don't say
Everybody is waiting for the arrival of a Covid-19 vaccine. News has been encouraging on that front as the whole world is making every effort to finding a cure --159 candidates to be exact. Some promise to deliver the vaccine as early as August, while others claim they have successfully tested it on humans. The vaccine will bring an end to this horrific pandemic and put the world economy back on its feet, they say.
It's time to face grim Covid-19 reality
At the onset of the coronavirus outbreak, there emerged an outbreak containment option called "Hurt and then ending" which in Thai is jeb tae jop. The complete lockdown of Wuhan was a prime example of that. In Thailand, the lockdown measure was first implemented in Buri Ram before it become a standard practice nationwide. The effectiveness of the measures varies across the globe -- from a seemingly complete success story in Wuhan to a not-yet sustained success in Spain, to a success and then failure in Singapore. I do not think anybody doubts the effectiveness of the lockdown on controlling the outbreak, but many, including myself, are starting to come out and question the cost of lockdown, which I have previously mentioned.
Lockdown pain worse than virus?
You have seen it in the news - strings of protests against the Covid-19 lockdowns of cities and countries around the world.
Covid-19 stimulus may sink economy
It is undeniable the Covid-19 outbreak is wreaking havoc on economies worldwide. Most governments are rolling out stimulus packages.
Govt has shallow pockets for virus fight
The International Monetary Fund (IMF) has just warned the world economy is most likely to enter recession in 2020 with negative economic growth.
Virus plus oil crisis spells recession
All economists, including myself, predict the spread of Covid-19 will put a big brake on economic growth through reductions in spending, particularly on travel. Assuming the virus outbreak lasts for about six months, the lower spending will likely last until the fourth quarter. Countries like Thailand, which depend heavily on foreign tourist revenue, will be hurt the most.
Can economy weather Covid-19 storm?
As of Wednesday, there were 80,991 confirmed cases of the Wuhan coronavirus known as Covid-19, spread across 41 countries and territories. But explaining health issues is not the purpose of this article.
