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Central Bank Watching Capital Movement, Balance Of Payments

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Central Bank watching capital movement, balance of payments

BANGKOK: -- The Bank of Thailand, the country's central bank, is now receiving data on foreign investment and capital gains in the private sector from the Business Development Department of the Ministry of Commerce.

The Monetary Policy Office of the Bank of Thailand has asked the Department to provide such data to prepare a database on foreign investment and accumulated profits in the private sector. The data

will help the Bank improve its book-keeping of Thailand's balance of payments, thereby enhancing the BoT's ability to analyse and plan economic policy.

An agreement between BoT governor Pridiyathorn Devakula and Director-General Orajit Singkalavanich of the Business Development Department will change the ground rules regarding financial transactions.

With the agreement taking effect, the department will issue an announcement obliging companies with foreign capital operating in Thailand, and Thai companies investing abroad, to provide such data to

the department. The data will then be forwarded to the Bank of Thailand.

The new procedure takes effect for balance sheet submissions for the 2006 account.

--TNA 2006-09-28

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