Wednesday, September 20, 2006

Thailand Unrest

State of even greater uncertainty and confusion are happening in Thailand. Just when I thought the rainy days are over for Thailand after the King helps to resolved it's political unrest over the Thai PM, Thaskin. Thai Military had seize control of the Constituion, Senate, Cabinet. Message from BANGKOK - Thailand's coup leader, General Sonthi Boonyaratglin, said Wednesday the military needed to seize power in order to unite the nation after months of political turmoil.

You might consider adjourning your travel to Thailand for the time being,MFA advises Singaporeans planning travel to Thailand to monitor developments and take precaution.

Performance on the share market are affected too, from the
"Singapore shares lower after Thai military coup"
article.
There is an additional concern in that the devastating 1997 Asian financial crisis had its epicentre in Bangkok when the Thai government allowed the baht to float freely in the face of a sharp deterioration in the country's balance of payments.

More info from wiki, East Asian financial crisis
The currency tumbled, sparking a collapse in Thailand's financial system which then spread across Southeast Asia and the broader region and required a massive International Monetary Fund-led bailout to halt.

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