ID :
142562
Sat, 09/18/2010 - 11:09
Auther :
Shortlink :
http://m.oananews.org//node/142562
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Finance minister believes Red Shirt rally won’t affect baht movement
BANGKOK, Sept 18 – Finance Minister Korn Chatikavanij on Friday voiced confidence that the planned rally by the Red Shirt activists over the weekend to mark the fourth anniversary of the military coup of September 19, 2006, and the fourth month anniversary of the anti-government mass demonstrations in downtown Ratchaprasong Intersection would not affect the baht's movement.
He said most investors believed the rally would not turn violent, and neither would it impact the money market.
Even so, he wanted all conflicting parties to realise the possible damage that the country could sustain from their movement, said the minister.
The permanent secretary for finance said short-term measures to manage the baht must be made with caution because it could have a long-term impact on the trade and investment, particularly regarding the opening of the ASEAN Free Trade Area.
He noted that foreign capital had flowed into the bond market in a larger volume than in the capital market.
Although the continued baht appreciation would impact some sectors to a certain extent, he said, the overall picture of exports remains sound with continued growth.
In particular, major entrepreneurs in some industries such as vehicles, electronics and chemical products still enjoyed the export growth and simultaneously counted more on imports.
To manage the baht's volatility, he said, the ministry would have to consider several ways to cope with it, including encouraging the purchase of the US dollar, generating more investment overseas, and increasing imports. (MCOT online news)
He said most investors believed the rally would not turn violent, and neither would it impact the money market.
Even so, he wanted all conflicting parties to realise the possible damage that the country could sustain from their movement, said the minister.
The permanent secretary for finance said short-term measures to manage the baht must be made with caution because it could have a long-term impact on the trade and investment, particularly regarding the opening of the ASEAN Free Trade Area.
He noted that foreign capital had flowed into the bond market in a larger volume than in the capital market.
Although the continued baht appreciation would impact some sectors to a certain extent, he said, the overall picture of exports remains sound with continued growth.
In particular, major entrepreneurs in some industries such as vehicles, electronics and chemical products still enjoyed the export growth and simultaneously counted more on imports.
To manage the baht's volatility, he said, the ministry would have to consider several ways to cope with it, including encouraging the purchase of the US dollar, generating more investment overseas, and increasing imports. (MCOT online news)
