Central bank lifts capital controls.

STEVE G

(BangkokPost.com) - Central bank on Friday decided to remove the 30% reserve requirement on short-term capital inflows imposed by the previous government.

Central bank governor Tarisa Watanagase said that the lift will be effective from Monday.

"The central bank decided to lift the capital controls because of the improving economic situation," she said.

The controls were imposed during the Surayud Chulanont administration in an attempt to control the appreciation of the baht against the dollar.

The controls required 30% of all incoming investments to be held by financial institutions for up to one year.

buksida · Posted: Fri Feb 29, 2008 10:16 pm Post subject:

Thats a start.

The dual baht system was only setup by the military for them to make a rapid killing before "democracy" returned to Thailand and the "politicians" can make a bigger killing.

Apologies to all ... for it is national cynics day today!
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STEVE G · Posted: Fri Feb 29, 2008 10:50 pm Post subject:

Only yesterday the finance minister was considering asking the chairman of Manchester City for advice on this very matter. He was obviously impressed by the answer and acted accordingly.

buksida · Posted: Fri Feb 29, 2008 11:15 pm Post subject:

Indeed, the hypocrisy and mendacity knows no bounds:

http://www.huahinafterdark.com/forum/thaksin-to-return-and-fix-the-government-t8460-15.html
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