ID :
10023
Sun, 06/15/2008 - 15:14
Auther :
Shortlink :
http://m.oananews.org//node/10023
The shortlink copeid
THAILAND'S CREDIT RATING STILL SOUND IF POLITICAL PROBLEM SOLVED
BANGKOK, June 15 (TNA) -- Thailand's credit rating will remain stable if the current political impasse is able to be solved, according to a senior finance ministry official.
Pongpanu Svetarundra, director-general of the Public Debt Management Office, made his remarks after the US-based ratings agency Standard & Poor's affirmed earlier this week the country's credit ratings as investment grade.
However, it cautioned that political turbulence and non-performing loans in the Thai banking sector remained major risks. S&P affirmed Thailand's BBB+/A-2 foreign currency ratings and A/A-1 local currency ratings. The outlook is stable, the service said.
However, acknowledging that if Thailand's domestic political uncertainty continues it will erode investor confidence and future economic growth, Mr. Pongpanu said the negative factors could eventually affect Thailand's credit ratings and slow the country's growth in the next two-three years compared to levels during the past five years.
Members and supporters of the People's Alliance for Democracy (PAD), which is calling on the government to resign, have been rallying against the government in central Bangkok since May 25 demanding that Prime Minister Samak Sundaravej to leave his post.
Also, the coalition government is facing varied protests from several
other directions, calling for it to prices changes and government support for purchase/sale of commodities from foodstuffs to fuel affected, ultimately, by soaring oil prices in the country.
Pongpanu Svetarundra, director-general of the Public Debt Management Office, made his remarks after the US-based ratings agency Standard & Poor's affirmed earlier this week the country's credit ratings as investment grade.
However, it cautioned that political turbulence and non-performing loans in the Thai banking sector remained major risks. S&P affirmed Thailand's BBB+/A-2 foreign currency ratings and A/A-1 local currency ratings. The outlook is stable, the service said.
However, acknowledging that if Thailand's domestic political uncertainty continues it will erode investor confidence and future economic growth, Mr. Pongpanu said the negative factors could eventually affect Thailand's credit ratings and slow the country's growth in the next two-three years compared to levels during the past five years.
Members and supporters of the People's Alliance for Democracy (PAD), which is calling on the government to resign, have been rallying against the government in central Bangkok since May 25 demanding that Prime Minister Samak Sundaravej to leave his post.
Also, the coalition government is facing varied protests from several
other directions, calling for it to prices changes and government support for purchase/sale of commodities from foodstuffs to fuel affected, ultimately, by soaring oil prices in the country.
