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Bank of Thailand Chief: Time Seems Right for Paying off Foreign Debt.

Bangkok Post (Bangkok, Thailand)

| January 06, 2004 | COPYRIGHT 2004 Bangkok Post. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Byline: Parista Yuthamanop

Jan. 6--Plans by the government to accelerate pre-payments of foreign debt would benefit the overall economy, according to M.R. Pridiyathorn Devakula, governor of the Bank of Thailand.

Prime Minister Thaksin Shinawatra last week directed the Finance Ministry to draw up plans to clear outstanding direct foreign borrowings by the end of the year.

He said over the weekend that state enterprise debt as well as foreign debt overall would be cut substantially over the next three to four years.

According to the central bank, foreign debt stood at $52.29 billion in October, with $17.04 billion owed by the government ...

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