Tainted technocrats

Article Abstract:

Analysts examining the cause of Thailand's financial crisis attribute the blame to the activities of the Bank of Thailand. The International Monetary Fund has suggested strong remedial measures affecting the Bank's operations. Systems and employees of the Bank of Thailand were previously held in high regard in the country, but analysts now suggest that the Bank did not keep strong enough control over the nation's financial sector, was not open enough, made bad policy decisions, and may have acted illegally in using such a high percentage of the nation's foreign-exchange reserves in defence of the baht.

Commercial Banking, State commercial banks, State Banks, Management

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Nirvana delayed

Article Abstract:

It is widely anticipated that the Thai economy will decline by between 6% and 8% in 1998. The economy remains in deep recession, and many observers feel that the government is not sufficiently strong to introduce the measures required to boost the country's competitiveness. The key issue at present is whether the likelihood of a long-term economic slump will assist reformist politicians in the near future in overcoming barriers to economic reform. The outcome of this issue will play a key role in determining whether Thailand and the rest of Asia will come through recession and be stronger afterwards.

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Beating the heat

Article Abstract:

Thailand's central bank predicts that the country's gross domestic product will expand by 8.3% in 1996 compared to 8.6% in 1995 and reported that inflation decreased to 7.3% in Mar 1996 compared to 7.4% during the previous month. Economists welcomed these indications of an economic slowdown which suggest that Thailand may be able to avoid an overheated economy. The Bank of Thailand introduced a tight money policy in Apr 1996 which included increased reserve requirements and more stringent capital-adequacy requirements for commercial banks.

Forecasts and trends

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