Thai DPM to visit U.S. for IMF, World Bank Spring Meetings

BANGKOK, April 7 (TNA) - Thai Caretaker Deputy Prime Minister Kittiratt Na Ranong will travel to the United States on Tuesday to attend the Spring Meetings of the International Monetary Fund (IMF) and World Bank Group, scheduled for April 9 to 12, 2014. Kittiratt told reporters that he will inform the meetings in Washington, DC, about Thailand’s economic conditions, covering its foreign-exchange reserve, deficit-reduction measures, and its public debts level. Kittiratt said Thailand’s public debts currently amount to 5.4 trillion baht, equivalent to 47 percent of its 12 trillion baht worth of gross domestic product (GDP). The debt ceiling is set at 60 percent of the GDP. He said the public debts will be at 4.3 trillion baht or 37 percent of the GDP if debts with no burden on national budgets are excluded. Kittiratt said he will also inform the meetings that Thailand’s economic fundamentals remain strong despite domestic political problems. At the Spring Meetings, the Thai deputy prime minister will also explain the political situations in the country, deliver a speech on behalf of the Association of Southeast Asian Nations (ASEAN), and discuss issues relating to the Foreign Account Tax Compliance Act. (TNA)