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Guideline to tackle Rohingya problem

Saturday, March 7, 2009

Thailand and the Office of United Nations High Commissioner for Refugees (UNHCR) have agreed to jointly introduce a handbook for screening Bengalis from the Rohingya boat people.

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Guideline to tackle Rohingya problem

Overall economic stability remained sound in Thailand . External stability was upheld by high international reserves, while trade and current account were close to balance. Regarding internal stability, inflation rose from last year in line with higher oil prices, despite a downward trend during the second half of the year. Unemployment rate in Thailand remained low but employment started to deteriorate in the forth quarter, particularly in the production sector affected by economic slowdown.

From September 15th to November 25 th before the takeover of the airports, the baht has depreciated by 2 percent against the US dollar. It has, however, appreciated against regional currencies by 6 percent. Similarly, the nominal effective exchange rate (NEER) had appreciated by 2 percent.

The banking sector in Thailand remains sound, but individual banks needs to be closely monitored.Banks’ foreign investments are less than 2 percent of their total asset with investment in foreign debt instruments being around 13 percent of total debt-instrument holdings. Foreign banks account for about 12 percent of the Thai market (although this figure goes up to 30-40 percent through equity holdings in Thai banks).

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