BoT rules out IMF support, cites strong fundamentalsBank of Thailand governor Veerathai Santiprabhob (Bank of Thailand photo)Thailand does not need financial assistance from the IMF during the pandemic because of the country’s strong economic fundamentals and the financial sector, says the Bank of Thailand. “There are some concerns that Thailand could ask for financial assistance from the IMF to overcome this crisis, similar to the Asian financial crisis in 1997. But we do not need it because of the country’s strong economic fundamentals after learning from the 1997 financial crisis,” said governor Veerathai Santiprabhob on Monday. There are 102 IMF member countries that require financial support from the IMF, from a total of 195 member countries, he said. Accelerated injections of financial support from the Financial Institutions Development Fund precipitated a widespread loss of confidence, said the IMF.

Source: Bangkok Post July 20, 2020 11:53 UTC