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Thailand: An Imbalance of Payments  
Product Ref: 09/407C Company: N/A

Product Type: Case Industry: Public Policy & Strategy
Public Sector & Non-Profit

Related Product(s): N/A
In June 1997, Thailand's currency became the object of intense speculation as the country's balance of payments was in tatters. Amidst the government's efforts to turn things around, finance minister Dr Amnuay Viravan resigned over policy disagreements and the Thai stock market plunged as investors feared a currency devaluation. As Amnuay's successor, Thanong, tried to pick up the pieces, he uncovered an awful secret: Thailand's central bank had virtually no liquid foreign exchange reserves left to defend its exchange rate. What action should he take? And, more importantly, what action could he take?
Functional Area : Economics & Business Policy

Issues: Exchange rate regime, free currency float, International Monetary Fund, currency speculation, balance of payment, imbalance of payment, international trade, import, export, internal consumption, domestic demand, central bank, devaluation, revaluation
Length: Text: 9 pages
Exhibits: 10 pages
Country: Thailand

Pub. Year: 2009 Level of Difficulty: 2
This product type is available in the following language(s):      English
Related Information: N/A
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