Tarrin leaves for talks with U.S., IMF<\/p>\n
BANGKOK (AFP): Thai Finance Minister Tarrin Nimmanahaeminda
\nyesterday left for crucial talks with U.S. and IMF finance chiefs
\nin Washington in the hope of improving investor confidence in
\ncash-strapped Thailand.<\/p>\n
Analysts predict Tarrin will argue for a fresh injection of
\ncapital in the wake of dramatic changes in the economic
\nenvironment since Bangkok's international rescue package was
\napproved last August.<\/p>\n
They said Thailand needed either a relaxation of the strict
\nausterity measures attached to the International Monetary Fund
\n(IMF)-led US$17.2 billion package or an extra credit facility.<\/p>\n
The minister will seek \"additional funding of $12 billion to
\nsupport the country's foreign reserves\" depleted by the abortive
\ndefense of the baht last year, the Bangkok Post said.<\/p>\n
The paper provided no source for its assertion, but analysts
\nhere have long said the IMF bailout was inadequate.<\/p>\n
But Tarrin was tight-lipped at the airport before his
\ndeparture early Monday, saying only that he hoped the meetings
\nwould help to restore confidence in the economy.<\/p>\n
\"We will be discussing the rescue plan which we hope will
\nrestore investors' confidence,\" he told reporters.
\nLast week, IMF chief Michel Camdessus said Thailand had neither
\nrequested a renegotiation of its IMF package, nor additional
\nfunds ahead of Tarrin's visit.<\/p>\n
The minister will meet top IMF officials, as well as
\nrepresentatives of the World Bank and the International Finance
\nCorporation, the World Bank's private investment arm.<\/p>\n
He will also meet U.S. Secretary of State Madeleine Albright
\nand National Security Council officials, as well as Treasury
\nSecretary Robert Rubin whom he will reportedly ask for help in
\nrolling over Thailand's debts with U.S. banks.<\/p>\n
The Thai stock market rallied almost 10 percent Monday,
\nclosing 37.7 points higher at 420.72, partly in anticipation of
\nTarrin's three-day visit.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/tarrin-leaves-for-talks-with-us-imf-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}