James McCormack, global head of sovereign and supranational ratings at Fitch, discusses global risks and Thailand's economic outlook in the Grand Hall at the Athenee Hotel. According to Mr McCormack, Thailand could even potentially see a boost in tourism from those looking to avoid Hong Kong because of the ongoing protests. Mr McCormack said Thailand's high current account balance is creating upward movement in the baht against the US dollar. Fitch puts great importance on US dollar value when assigning ratings, as the dollar can be used to pay off debt. "It used to be that if the US sneezes then the world would catch a cold," said Parson Singha, senior director of financial institutions at Fitch Ratings Thailand.

Source: Bangkok Post October 02, 2019 21:56 UTC