BoT Governor: Political Trouble Affecting Economy

BANGKOK, November 10 (TNA) - Current political turmoil in Thailand has now negatively affected the country’s economy, said Bank of Thailand (BoT) governor Prasarn Trairatvorakul on Sunday. In his speech entitled ‘Thailand’s economy under volatility situation’, Mr. Prasarn said he is concerned on rallies being launched by several groups protesting the controversial Amnesty Bill. Several demonstrations are expected to be held in Bangkok and confrontations are expected on Monday, the same day the International Court of Justice at The Hague issues its ruling on disputed land near the ancient Preah Vihear temple, contested by Cambodia and Thailand, he said. The country’s political instability has now started to affect economy and this could be seen from eroding confidence among tourists, consumers and businessmen, said Mr. Prasarn, adding that despite the problem, the BoT is prepared to protect stability of financial institutions. He noted that people do not have faith on the Amnesty Bill sponsored by the government, therefore, the crux must be solved from the root of the problem. Ong-art Klampaiboon, a Democrat Party list MP, opined that ratification by parties in the coalition government to stop pushing the draft Amnesty Bill after the Senate votes to reject the bill, scheduled Monday, is only meant as “buying time” because those parties cannot finally oppose the government in implementing it into law. More street demonstrations by people are expected if the government does not totally drop the bill from the parliament, said Mr. Ong-art. Countering charges by the major opposition Democrat Party, Prompong Nopparit, spokesman of the ruling Pheu Thai Party, said the opposition party should cease its attack and its members should return to perform their duty in the Lower House rather than holding street protest after problem on the Amnesty Bill ends. Mr. Prompong denied reports on dissolution of the House because of the continuing demonstrations nationwide.(TNA)