IMF reviewing Thai reforms

IMF reviewing Thai reforms

BANGKOK (Reuters): The International Monetary Fund will start
a two-week review of Thai economic reforms today before
announcing a decision on the next disbursement of loans under a
US$17.2 billion multilateral bailout package for the country.

A senior Thai central bank official said yesterday IMF
officials would focus on issues such as measures to ease a severe
credit crunch and high lending rates.

The official voiced government satisfaction over the Thai
baht's relative stability in the past month, saying it would
encourage government economic planners to allow interest rates to
decline.

The baht has stayed under 40 to the dollar in the past month.
It closed Thursday at 38.60 against a historic low of 56.90 in
January.