Thailand's financial, capital markets not affected by Italy's internal problem

BANGKOK, May 31 (TNA) - The Bank of Thailand (BOT) says that Italy's internal problem currently has not affected the Thai financial and capital markets so far. BOT Governor Veerathai Santiprabhob told journalists of the information on Thursday, explaining that Thailand and Italy have had no direct transactions in the financial and the capital markets. According to the BOT governor, more capital outflows from the Thai economy and other emerging economies in the region currently are mainly caused by rising key interest rates of major global economies. The BOT governor affirmed that Thailand's economic fundamentals remain strong, along with a high level of foreign exchange reserves and a low level of external debt in terms of the government's holding of foreign bonds, at less than 10 per cent compared with 30-40 per cent of some other emerging economies. There is now, meanwhile, a political standoff between conflicting parties in Italy, which may affect its domesic economic condition in the near future, as viewed by international analysts. (TNA)