Virabongsa Says Thailand an ‘Attractive Place for Hot Money’

Virabongsa Ramangkura, chairman of Bank of Thailand, comments on efforts to stem capital inflows in Bangkok late yesterday.

  • Thailand is “attractive place for hot money because our regulations are not that tight like China”: Virabongsa
  • BOT is concerned, but not panic-stricken yet; economic growth at 4-5% not enough to cope with huge amounts of inflows
  • Virabongsa says he can’t think what measures to use to slow it down; using Tobin tax isn’t easy; direct controls like reserve requirements or non-market measures have strong side-effects

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