Thailand credit downgraded by Japanese agency

[webfact]

Thailand Credit Downgraded By Japanese Agency
By Khaosod English

Anti-government leader Suthep Thaugsuban receives donation during a demonstration in front of Ministry of Education, 4 April 2014

BANGKOK: -- The Japan Credit Rating Agency (JCR) has downgraded the credit status of Thailand following months of prolonged political turmoil, an official said.

According to Ms. Chularat Sutheethorn, director of the Public Debt Management Office (PDMO), told reporters that the JCR has changed Thailand's credibility from "Stable Outlook" category to "Negative Outlook" due to the latest round of political crisis which erupted in November last year.

Thailand has not seen a functioning government since Prime Minister Yingluck Shinawatra dissolved the House last December, and the crisis could result in Ms. Yingluck losing her caretaker position.

The political crisis may also affect Thailand's GDP growth, Ms. Chularat warned, possibly decreasing it to 0.6%. Last year's GDP stood at 2.9%, a drastic drop from 6.5% in 2012, Ms. Chularat said.

Nevertheless, she said, Thailand still benefits from a strong financial status on the world stage and a stable bank system which would help the kingdom avoid any serious financial crisis.

But she added that the crisis could strangle any possible economic growth or recovery in the future, unless Thailand returns to a state of normalcy soon. For instance, foreign capital could start flowing out of the country, partly fanned by fears of Thailand's instability as reflected in the latest move by JCR.

According to Ms. Chularat, the JCR is also concerned by the uncertainty over the next round of elections, which have not been officially set, after the Constitutional Court invalidated the 2nd February election, and by the "deeply rooted" political and social unrest in Thailand.

The JCR has predicted that it will be "extremely hard" to find solutions for the ongoing conflicts, Ms. Chularat added.

Source: http://en.khaosod.co.th/detail.php?newsid=1396609890&typecate=06&section=


-- Khaosod English 2014-04-05

[Thai at Heart]

Booooooooom

[I Like Thai]

Is that the same Farang hand handing over the money for the photographer, who was also handing out the money in a photo yesterday or day before ?

In this topic

http://www.thaivisa.com/forum/topic/715957-special-way-to-end-conflict-possible-thai-army-chief-says/

Edited April 4, 2014 by I Like Thai

[PaullyW]

Here we go. Let's see how this continues to go. We all know that Thais don't give a toss what the outside worlds thinks, but let's see what happens when all the foreign influence starts to hit them in the pocket. We'll see then.

[Thai at Heart]

Here we go. Let's see how this continues to go. We all know that Thais don't give a toss what the outside worlds thinks, but let's see what happens when all the foreign influence starts to hit them in the pocket. We'll see then.

The Japanese have massive investments here. I am not sure whether this effects their ability to fund inter company business, but a downgrade as specific as this is in some ways worse than one of the ratings agencies.

This Japanese agency probably has a very close knowledge of Thailand than other agencies.

[dcutman]

But she added that the crisis could strangle any possible economic growth or recovery in the future, unless Thailand returns to a state of normalcy soon.

What is this state of normalcy? When was the last time Thailand enjoyed this state?

[Thai at Heart]

But she added that the crisis could strangle any possible economic growth or recovery in the future, unless Thailand returns to a state of normalcy soon.

What is this state of normalcy? When was the last time Thailand enjoyed this state?

Or even a state of "normality".

[Thaddeus]

But she added that the crisis could strangle any possible economic growth or recovery in the future, unless Thailand returns to a state of normalcy soon.

What is this state of normalcy? When was the last time Thailand enjoyed this state?

Pick a year, any year.

But one before it was stealth-colonised by the Chinese.

[WoopyDoo]

Thailand's negative credit rating?

Don't they mean PTP's negative credit rating??

Why penalize Thailand, it is the government that can't be trusted with money, and they will be gone soon.... thank Christ.

[smedly]

That whole article has one line about the actual subject matter - the rest is all government spin and blame

[focus27]

Is that the same Farang hand handing over the money for the photographer, who was also handing out the money in a photo yesterday or day before ?

In this topic

http://www.thaivisa.com/forum/topic/715957-special-way-to-end-conflict-possible-thai-army-chief-says/

Great pic of Suthep looking like Smeagol (from LOTR)... my precious money!!

[I Like Thai]

Is that the same Farang hand handing over the money for the photographer, who was also handing out the money in a photo yesterday or day before ?

In this topic

http://www.thaivisa.com/forum/topic/715957-special-way-to-end-conflict-possible-thai-army-chief-says/

Great pic of Suthep looking like Smeagol (from LOTR)... my precious money!!

Looks like he's thinking

"Oh my, an Idiot handing out free money, I must take the Idiots money before someone else does. I had heard the stories about Farangs always giving away their money. But i couldn't believe the stories could be true, Farangs, I'll never understand them"

[zydeco]

What's next? A downgrade from North Korea?

[jpeg]

Is that the same Farang hand handing over the money for the photographer, who was also handing out the money in a photo yesterday or day before ?

In this topic

http://www.thaivisa.com/forum/topic/715957-special-way-to-end-conflict-possible-thai-army-chief-says/

That's not a 'farang hand'. Duh. How long you been here?

[happynthailand]

yea,like nobody saw that comeing

[pisico]

Thailand's negative credit rating?

Don't they mean PTP's negative credit rating??

Why penalize Thailand, it is the government that can't be trusted with money, and they will be gone soon.... thank Christ.

Denial is not a river in Africa.

It's all due to the selfishness of one Khun Suthep trying to get a pass on impending charges. He went through that in 1995 when he resigned as Minister of Agriculture lest he was indicted for dereliction of duty, unethical conduct and fraud. Thainess enabled him to do that and he got Scott free. What goes on for months now is his doing, not Thailand's.

Then again, some TV members are driven by righteous fervour and blinded by tribal loyalty.

[catmac]

Thailand's negative credit rating?

Don't they mean PTP's negative credit rating??

Why penalize Thailand, it is the government that can't be trusted with money, and they will be gone soon.... thank Christ.

Denial is not a river in Africa.

It's all due to the selfishness of one Khun Suthep trying to get a pass on impending charges. He went through that in 1995 when he resigned as Minister of Agriculture lest he was indicted for dereliction of duty, unethical conduct and fraud. Thainess enabled him to do that and he got Scott free. What goes on for months now is his doing, not Thailand's.

Then again, some TV members are driven by righteous fervour and blinded by tribal loyalty.

And didn't he threaten to march on Bangkok and smash the place up then if they didn't stop investigating his land deal frauds? What is it they say about leopards?

[NanLaew]

2010 - Vietnam credit downgraded by Fitch

2011 - US credit rating downgraded by S&P

2012 - Spain credit rating downgraded by S&P

2013 - France, Italy and Indonesia credit downgraded by S&P

2013 - UK credit downgraded by Fitch

2014 - Thailand credit downgraded by.... who now?

Perspective. The enemy of the sensationalist.

[opalred]

japan downgrades what a joke when it has been i the dump for years and will get worse as china takes over everything japan was making leaving it only sushi to export

[jat1012]

Thailand's negative credit rating?

Don't they mean PTP's negative credit rating??

Why penalize Thailand, it is the government that can't be trusted with money, and they will be gone soon.... thank Christ.

IF there is an election, PTP or Clone PTP will be re-elected, assuming the normal 1 man 1 vote rule is followed. Then the situation will return to Thai normal. The Elite and Southern Thais will again be in the minority, because they cannot sell their brand of politics to the majority. No government can be trusted with money.

[Loptr]

The irony of this topic is that Japan is questioning Thailand's credit worthiness when they themselves have been a financial basket case for 20+ years. Abenomics (QE) has reached a ridiculous level in Japan and will destroy what is left of the Yen long before the baht fails.

[pisico]

The irony of this topic is that Japan is questioning Thailand's credit worthiness when they themselves have been a financial basket case for 20+ years. Abenomics (QE) has reached a ridiculous level in Japan and will destroy what is left of the Yen long before the baht fails.

What irony?

Thais are copiers, assemblers and followers.

Japan is an industrialized and fully developed country whereas Thailand is basically a country that depends on Agriculture and Tourism. That in spite of foreign investment that gives Thailand the superficial image of a developed country.

Name Thai recipients of Nobel Prize in any discipline. Name the Thai inventors and their inventions that contributed to the advancement of humankind.

I am still waiting...

I know, the usual suspects will flame me with their righteous fervour and blinded by tribal loyalty. Nothing racist about facts and the truth.

[DrTuner]

Here we go. Let's see how this continues to go. We all know that Thais don't give a toss what the outside worlds thinks, but let's see what happens when all the foreign influence starts to hit them in the pocket. We'll see then.

Add to that the pressure that's being mounted on Russia due to Crimea, who are now a large tourist group in Thailand, the slowing down of China's economy, domestic problems with rice schemes, trillion baht scams, Dubai warlords and whatever .. I bet the Baht will go up and the economy bloom, as it has before

[marcusd]

Here we go. Let's see how this continues to go. We all know that Thais don't give a toss what the outside worlds thinks, but let's see what happens when all the foreign influence starts to hit them in the pocket. We'll see then.

The last few months tourism has been down and that hits many LOCALS. Lets see it now as we move to a non tourism season and still no money flowing in. And lets see now that business is stating they will move and money and jhobs go to.

this turmoil is going to take a few years to recover from. It may be too late for Thailand.

Red white blue yellow - it does not matter as NONE of the players espousing REFORM or DEMOCRACY has done or said anything meaningful to actually help the people or the country from what i can see.

Words come and go as they have here for many years. No one is laying any plan only stating the government is corrupt and that is from corrupt people too. none of them know their way out of a paper bag!

[Pui]

The irony of this topic is that Japan is questioning Thailand's credit worthiness when they themselves have been a financial basket case for 20+ years. Abenomics (QE) has reached a ridiculous level in Japan and will destroy what is left of the Yen long before the baht fails.

This was absolutely what came to mind when i read this story. Japan's Quantitative easing program is one of the biggest in the world per captor. Who are they to be casting assertion over the creditworthiness of Thailand. They are printing money like nobody else on the planet, past or present.

[marcusd]

The irony of this topic is that Japan is questioning Thailand's credit worthiness when they themselves have been a financial basket case for 20+ years. Abenomics (QE) has reached a ridiculous level in Japan and will destroy what is left of the Yen long before the baht fails.

What irony?

Thais are copiers, assemblers and followers.

Japan is an industrialized and fully developed country whereas Thailand is basically a country that depends on Agriculture and Tourism. That in spite of foreign investment that gives Thailand the superficial image of a developed country.

Name Thai recipients of Nobel Prize in any discipline. Name the Thai inventors and their inventions that contributed to the advancement of humankind.

I am still waiting...

I know, the usual suspects will flame me with their righteous fervour and blinded by tribal loyalty. Nothing racist about facts and the truth.

Japan is no basket case as they are using their pension funds to aid the economy and Japanese support their government by buying the bonds (debts) with little help from outside nations.

Japan is still one of the largest investment countries pouring BILLIONS into other nations. Thailand does not. Japan produces and exports. i doubt rice shrimp and girls selling pussy counts as much.

Russians have to pay a third more for everything here now than they did 3 months ago and they are not rich either. Thailand is in need of dire help and soon or they will back behind everyone.

Whilst I do not like Indonesia , they must be looked at with some awe because they are growing, have natural resources ready and able to be raped by the west and have a stable government. They are OPEN for business and have been going in leaps and bounds for years. Pu aside the few bombings and so forth as Thailand is not immune to those either and Indonesia for business wins. Business brings in far more money than tourism.

Why is it that Japan is so rich, Indonesia is growing and Thailand as ASIA'S second largest economy is stalling? Watch this space as in 5 years when TOYOTA departs the LOS to Indonesia where they are offered free electricity... see the bananas fly then!

[pisico]

The irony of this topic is that Japan is questioning Thailand's credit worthiness when they themselves have been a financial basket case for 20+ years. Abenomics (QE) has reached a ridiculous level in Japan and will destroy what is left of the Yen long before the baht fails.

What irony?

Thais are copiers, assemblers and followers.

Japan is an industrialized and fully developed country whereas Thailand is basically a country that depends on Agriculture and Tourism. That in spite of foreign investment that gives Thailand the superficial image of a developed country.

Name Thai recipients of Nobel Prize in any discipline. Name the Thai inventors and their inventions that contributed to the advancement of humankind.

I am still waiting...

I know, the usual suspects will flame me with their righteous fervour and blinded by tribal loyalty. Nothing racist about facts and the truth.

Japan is no basket case as they are using their pension funds to aid the economy and Japanese support their government by buying the bonds (debts) with little help from outside nations.

Japan is still one of the largest investment countries pouring BILLIONS into other nations. Thailand does not. Japan produces and exports. i doubt rice shrimp and girls selling pussy counts as much.

Russians have to pay a third more for everything here now than they did 3 months ago and they are not rich either. Thailand is in need of dire help and soon or they will back behind everyone.

Whilst I do not like Indonesia , they must be looked at with some awe because they are growing, have natural resources ready and able to be raped by the west and have a stable government. They are OPEN for business and have been going in leaps and bounds for years. Pu aside the few bombings and so forth as Thailand is not immune to those either and Indonesia for business wins. Business brings in far more money than tourism.

Why is it that Japan is so rich, Indonesia is growing and Thailand as ASIA'S second largest economy is stalling? Watch this space as in 5 years when TOYOTA departs the LOS to Indonesia where they are offered free electricity... see the bananas fly then!

Kudos to you Marcusd!!

You contributed to the subject and thread in a learned and analytical way. Good comparative view of the countries that in the same region grow and go forward whilst Thailand struggles to keep the old feudalistic pace. I hope that this superficially modern country and society soon makes to the late 20th. century for all of our sakes.

Why no flames from the usual suspects?

[ramrod711]

Thailand's negative credit rating?

Don't they mean PTP's negative credit rating??

Why penalize Thailand, it is the government that can't be trusted with money, and they will be gone soon.... thank Christ.

Denial is not a river in Africa.

It's all due to the selfishness of one Khun Suthep trying to get a pass on impending charges. He went through that in 1995 when he resigned as Minister of Agriculture lest he was indicted for dereliction of duty, unethical conduct and fraud. Thainess enabled him to do that and he got Scott free. What goes on for months now is his doing, not Thailand's.

Then again, some TV members are driven by righteous fervour and blinded by tribal loyalty.

I guess you must have missed the 700 billion baht rice boondoggle, the first car scheme and all the rest of the illegal constitutional acts of the former government. You just stay comfortable and safe in your cocoon of ignorance and hatred for Suthep, have a nice day now.

[swissie]

Downgrade overdue. S&P, Moodies, Finch to follow soon. "Banana-Republic" politics aside, Thailand lacks the ability and willingness to address the "Productivity-Problem".

In this competitive wold, THAINESS will not be accommodated.

Cheers.

[swissie]

Downgrade overdue. S&P, Moodies, Finch to follow soon. "Banana-Republic" politics aside, Thailand lacks the ability and willingness to address the "Productivity-Problem".

In this competitive wold, THAINESS will not be accommodated.

Cheers.