Virabongsa Says Thailand an ‘Attractive Place for Hot Money’
This article is for subscribers only.
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