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Mid

FOREIGN RESERVES

Govt has no plan to use foreign reserves: Abhisit
By The Nation


Prime Minister Abhisit Vejjajiva

Prime Minister Abhisit Vejjajiva on Tuesday insisted that the Thai government would not resort to the foreign reserves to finance its investment projects.

On academics' proposal for the use of the reserves, he said that as the reserves are converted into Thai baht, that would strengthen the Thai currency.

Academics earlier suggested the government make use of the foreign reserves which are over US$100 billion to finance mega-projects, reasoning that it would help reduce the government's borrowing and the public debts.

Abhisit said that the government would proceed with the planned borrowing. If the Bt400 billion borrowing decree wins parliamentary approval, proceeds could be injected to investment projects in October.

nationmultimedia.com

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Spin

Thailand hoards bigger than average foreign reserves when if it had any decency it would spend some of those funds on those who have fuck all.

They dont, and that, ladies and gentlemen, is a fucking disgrace.

Mid

^

can't argue with that .........

watterinja

When a Thai politico talks in one direction, then look 180 degrees in the opposite direction, as the turds are sure to come thick & fast.

Butterfly

^^ why should they give away working capital ?

social programs should be financed through taxes and fiscal policies, not capital reserves.

Mid

infrastructure ain't a social program troll

crazy dog

The government of the people have reserves of 100 billion US and today we read of an unemployed man reduced to assaulting women so they will send him to jail where he will not starve. Better to spend some of it on the people it's held in trust for.

watterinja

^ Now you know why Thailand is so intent on borrowing money. The common man will be forced to pay off the loan, the hi-so's will siphon off the 'money in trust'.

Butterfly

same, should be financed through fiscal policies, not with existing national assets.

should they also sell the government house to finance those infrastructure projects ?

watterinja

^ Why not?

Butterfly

^ because that's not a sound financing policy,

The idea is to raise revenues, not sell your TV and your furnitures to raise cash.

Rural Surin

Let them eat cake.

thehighlander959

What you have got to remember here is that its "Sufficiency economy" if you are sufficient its enough as far as the Chinese Thais and hi-so in Bangkok are concerned.
I think this place could do with a revolution not a red and yellow one as per se but a real kickass one where ya take out the hi-so and all the power brokers..

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"Don,t f*ck with the baldies*

watterinja

Sometimes it is necessary to tighten one's belt & reduce debt burdens - not look to borrow more money. Selling off a few items to bridge the gap is called "living within one's means".

Rural Surin

Perhaps the beloved Crown Property Bureau could make a fine contribution to ease the pain...

watterinja

Wouldn't that just be a sight for sore eyes...

tsicar

all seems a bit stoopid to me.
kinda like having money in the bank, earning little or no interest, but borrowing at a high interest rate to finance day-to-day expenses.

baldrick

should be using some of the USD to buy the snot that is priced in USD and needs to be imported for the infrastructure projects - like china is doing

Butterfly

actually perfectly logical, when interest rates are low, you want to borrow money at a fixed rate for long term, and use the capital reserves for other strategic projects with more values.

Mr R Sole

Just use the money to help the poor and then you're assured a seat in the next parliament....Next