Central bank chief: Political uncertainty damaging Thai economy

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BANGKOK, Nov 11 – Thailand’s political conflicts and continued instability have begun to diminish the confidence of tourists, consumers and the business sector, according to central bank governor Prasarn Trairatvorakul.

He said the Bank of Thailand (BoT) would do its best to maintain liquidity in domestic financial system in light of the increasing risks to the Thai economy.

Speaking on the Thai economy in a volatile situation, Mr Prasarn expressed concern at the planned protests by several civil society groups against the amnesty bill today, which coincides with the verdict of the International Court of Justice on the Preah Vihear case – a long-standing dispute between Thailand and Cambodia.

He said BoT employees who rallied outside the central bank to oppose the amnesty bill were exercising their fundamental rights in accord with the democratic system and that their demonstration did not impair their routine work.

He said the government’s initiatives on the amnesty bill have created distrust among Thai people, similar to the rice pledging plan.

“People’s lack of confidence weakens the government. It should understand the real situation and accept the causes of the problems,” said Mr Prasarn.