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Moody’s changes Thailand’s rating outlook to positive from stable

The affirmation of Thailand’s Baa1 ratings reflects the country’s very strong public and external finances that provide Thailand significant room to counter shocks.

Boris Sullivan

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Moody’s Investors Service (“Moody’s”) has today changed the outlook on the Government of Thailand’s issuer ratings to positive from stable and affirmed the Baa1 issuer and senior
unsecured ratings.

The decision to change the outlook to positive reflects Moody’s view that investment in physical and human capital, in the context of a lengthening track-record of a predictable and stable macroeconomic environment, may over time boost Thailand’s competitiveness.

Such developments could partially offset the drag on the country’s growth potential from gaps in human capital development and an ageing population.

The affirmation of Thailand’s Baa1 ratings reflects the country’s very strong public and external finances that provide Thailand significant room to counter shocks.

Thailand’s large and diverse economy also supports shock absorption capacity and the rating.

By contrast, the Baa1 rating also takes into account credit constraints from lingering, albeit easing, political risk and, longer-term structural challenges related to an ageing society and labour skills shortages that weigh on growth potential.

In addition, Moody’s has also affirmed Thailand’s local currency senior unsecured ratings at Baa1 and the foreign currency commercial paper rating at P-2. Concurrently, Moody’s has affirmed the local currency senior unsecured rating for the country’s central bank, the Bank of Thailand, at Baa1.

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Banking

Thai Baht currency control mulled by central bank

The Industry Minister proposed measures to help business owners, such as the promotion of Thai Baht as a currency for international trade to reduce the risks from US Dollar currency fluctuation

National News Bureau of Thailand

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BANGKOK, 15th August 2019 (NNT) – The Minister of Industry has held talks with the Bank of Thailand’s Governor over measures to control the fluctuation of Thai Baht currency, minimize impacts faced by SMEs and promote the import of machinery during this time to take advantage of the stronger currency.

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Banking

Thailand’s dangerous debt addiction

Thailand is now a top-ten highest household debt country among 89 countries worldwide and third highest among 29 Asian countries.

Olivier Languepin

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Thailand’s household debt has steadily increased to 78.6% of the country’s gross domestic products (GDP), or Bt12.8 trillion in the fourth quarter of last year, according to figures from the National Economic and Social Development Council.

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Banking

Thailand’s four challenges : Debt, inequality, plastics and climate change

Thais tended to get into debt faster, for longer and for higher amounts. Indebtedness starts as soon as they begin to work at age 25 and can increase until 56 years old.

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Bank of Thailand Governor Veerathai Santiprabhob, in his speech entitled “Formulating for the Future of Corporate Governance”, delivered at the Finance and Beyond National Director Conference 2019 in Bangkok (July 24th), said Thailand faces four challenges that require good governance in businesses to address.

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