Mahathir heads for Philippines

Mahathir heads for Philippines

BANGKOK (AFP): Malaysian Prime Minister Mahathir Mohamad left
here for Manila yesterday after gaining support from the Thai
premier for a proposal to conduct ASEAN trade in local
currencies, officials said yesterday.

Mahathir, who wrapped up a his one-day whistle-stop visit
which began Thursday evening, held meetings on his currency
proposal and other bilateral issues with Prime Minister Chuan
Leekpai and his senior economic team.

Chuan told reporters that he had assigned his economic chief,
Deputy Prime Minister and Commerce Minister Supachai Panichpakdi,
to study the feasibility of using local currencies instead of the
dollar in trading.

"I have instructed Supachai to look into the matter in detail
and also to check whether it fits with the International Monetary
Fund conditions Thailand has agreed to," he said.