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Byline: Wichit Sirithaveeporn
Nov. 5--State enterprises will be allowed to borrow up to nine billion baht in local loans to refinance existing offshore loans in the 2003 fiscal year, says Pannee Sathavarodom, director-general of the Public Debt Management Office.
The Bank of Thailand estimates that nine billion baht is the most that state enterprises could borrow without affecting the country's financial liquidity or putting pressure on local interest rates.
The Finance Ministry said that if a state enterprise could locate low-cost local sources of funds, it could use them to replace funds obtained from the capital market and export-credit ...