Nearly 30 years after IMF rescue, Thailand faces new economic test
Officials are seeking long-term foreign capital for semiconductors, data centers and electric vehicles as growth has averaged 2.34% over five years.
- Next week, Bangkok will host the annual meetings of the International Monetary Fund and World Bank. Finance Minister Ekniti Nitithanprapas seeks to steer Thailand's economy through a new challenge: escaping years of sluggish growth nearly 30 years after the 1997 financial crisis.
- Following the re-election of Anutin Charnvirakul in February, relative political calm provides relief to an economy that has grown by an average of 2.34% annually over the last five years, building on political ownership established after 1997 by former Prime Minister Chuan Leekpai.
- Thailand's public debt-to-GDP ratio nears the 70% ceiling, and investment-to-GDP has declined to around 22% to 23%, Ekniti told Reuters. Fitch Ratings revised the nation's outlook to "stable" last month, citing resilience despite these structural headwinds.
- Ekniti outlined a plan to hit 3% growth within three years by drawing foreign investment into semiconductors, data centres, and electric vehicles. The central bank remains more conservative, projecting a potential growth rate of 2.7% that could take at least four years to reach.
- IMF Managing Director Kristalina Georgieva warned the global economy faces risks from high energy prices and record public debt. Amid this fragmented world, Ekniti believes "Thailand can be a trusted connector" to link fragmented economies and position the nation for sustained development.
44 Articles
44 Articles
Al-Jadaan leads Saudi delegation to 2026 IMF-World Bank Annual Meetings
Minister of Finance Mohammed Al-Jadaan is leading Saudi Arabia's delegation to the 2026 Annual Meetings of the International Monetary Fund (IMF) and World Bank Group (WBG), which began in Bangkok, Thailand, on Monday
Weeklong meetings through Oct. 18 will discuss state of global economy and issues of international concern
After 35 Years, IMF-World Bank Meetings Return To Bangkok ...
(Seoul = Yonhap News) Reporter Chae Sae-rom = The Bank of Korea announced that Governor Shin Hyun-song is attending the G20 Finance Ministers and Central Bank Governors Meeting and the International Monetary... in Bangkok, Thailand
The Commissioner General of Police confirmed full readiness to ensure security and manage traffic for the World Bank and International Monetary Fund Governors' Meeting.
Coverage Details
Bias Distribution
- 54% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
