Are You A Sexpat Or Do You Ride The Backwards Morality Train?

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Thailand's economic growth projected at 5.5% this year: IMF

BANGKOK, May 11 -- The International Monetary Fund (IMF) projects that Thailand's economic growth in 2012 will be 5.5 per cent, but warned that significant downside risks still remain due to uncertainties from the global economy and the progress of flood-prevention measures, according to the Bank of Thailand (BoT).

The BoT said in a statement issued yesterday that the IMF Executive Board on April 27 concluded an Article IV Consultation with Thailand and commented that that the Thai authorities’ policy response to last year’s floods has propelled the strong recovery.

The IMF said that Thailand’s economic growth is projected at 5.5 and 7.5 per cent in 2012 and 2013, respectively. While the short-term outlook is favourable, significant downside risks remain due to uncertainties related to the global economy and the progress of flood-prevention measures.

The current expansionary fiscal and monetary stances are appropriate, BoT said. However, the authorities should reduce their supportive policy roles as the recovery takes hold and move to a medium-term consolidation path.

The main challenge is to speed up reconstruction while maintaining macroeconomic stability and promoting inclusive growth, the IMF said.

There is a scope for scaling back subsidies and tax credits, in order to create the necessary fiscal space.

Income redistribution policies need to be closely monitored to contain fiscal costs and improve efficiency.

Minimum wage increase should also be accompanied by measures boosting labour productivity to preserve competitiveness.

Capital inflows are likely to remain volatile in the near term. Nevertheless, there is room to increase exchange rate flexibility.

The executive board supported the authorities’ plans to gradually further relax restrictions on capital outflow while ensuring adequate safeguards.

The board welcomed progress made in developing financial markets and called for swift action to mitigate risks from government-owned specialised financial institutions, by refocusing them on their core mandates, improving risk assessment standards and strengthening supervision.

Under Article IV of the IMF Articles of Agreement, it usually holds bilateral discussions with members annually.

A staff team visits the country, collects economic and financial information, and discusses with officials the country's economic developments and policies.

On return to headquarters, the staff prepares a report, which forms the basis for discussion by the executive board.

At the conclusion of the discussion, the managing director, as board chairman, summarises the views of the executive directors, and this summary is transmitted to the national authorities. (MCOT online news)

-- TNA 2012-05-11

[blazes]

What incredible BS ("go hok") in this hopeless piece of re-writing of a government/IMF news release. Its vaguely hopeful statements could apply to almost any country in the world (well, not Zimbabwe or North Korea).

But at least it's interesting for the way it casts light on the way the IMF arrives at its "conclusions". It visits a particular country, talks to the Central Bank boffins, and then flies back to Washington to prepare a report. Which could have been written by the Central Bank itself.

Alice in Wonderland. And meanwhile one of the most powerful banks in the world, JPMorgan, somehow manages to "lose" 2 billion dollars in a matter of weeks......

[12DrinkMore]

What incredible BS ("go hok") in this hopeless piece of re-writing of a government/IMF news release. Its vaguely hopeful statements could apply to almost any country in the world (well, not Zimbabwe or North Korea).

But at least it's interesting for the way it casts light on the way the IMF arrives at its "conclusions". It visits a particular country, talks to the Central Bank boffins, and then flies back to Washington to prepare a report. Which could have been written by the Central Bank itself.

Alice in Wonderland. And meanwhile one of the most powerful banks in the world, JPMorgan, somehow manages to "lose" 2 billion dollars in a matter of weeks......

As usual there will be a flurry of disbelief that the Thais can actually achieve growth and have a successful economy. This disbelief has been going on for at least a decade. Still the Thai economy keeps growing.

And the 'amazed' and 'non-believers' keep coming along. Political unrest, 'Bangkok on fire', bird flue, floods in Bangkok, and yet Thailand keeps on 'a truckin'. And all the 'Nay' sayers, continue to say 'Nay".

Wake up guys.

But amazingly (sorry about that) "Blazes" comes up with a story about that bunch of parasites on the worlds' economy, JP Morgue, that have lost 2,000,000,000,000 crispy USD's. Must be some good news in that, as there is always a counterparty to these bets. And how big is the actual number? Like the numbers they won't admit to?

Let's list out the insolvencies

Greece

Spain

Belgium

Italy

Portugal

RBS

Lloyds

Ireland

700 odd US banks

France has a few issues

UK

USA

Hmm, can't see any Asians in there. Maybe somebody can provide one?

Here come the Thais, buying up UK companies....

http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/9262711/Thai-food-producer-CP-Foods-preparing-Birds-Eye-bid.html

Well, really, how on earth could that happen?

Thai fish fingers?

Thailand is SUCH a POOR nation. Full of STUPID people.

Or so numerous posters would have us believe.

The are surely well outnumbered by the poor in the west and the crass stupidity of the western politicians.