Thailand gets $500m loans

Thailand gets $500m loans

WASHINGTON (AFP): The International Monetary Fund on Tuesday
announced that Thailand was now entitled to another US$500
million worth of international credits in light of its progress
toward economic stability.

"I commend the Thai authorities for diligently implementing an
appropriate policy framework and consolidating the stabilization
gains achieved earlier in the year," said IMF managing director
Michel Camdessus.

The IMF component in the latest loan package, which is backed
by other multilateral and bilateral contributors, is $140
million.

The Fund last year organized an international rescue for
Thailand in the amount of $17.2 billion, to which it pledged $3.9
billion.