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.