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Sovereign Wealth Funds Briefing - Categorized | Investment, Market

Thailand proposes asia pool $350 billion for crisis

Posted on 23 October 2008

From Bloomberg.com: Thailand will propose that Asian countries pool $350 billion, or 10 percent of their foreign- exchange reserves, to help protect financial systems from a looming global recession.

Under the plan the Association of Southeast Asian Nations and Japan, China and South Korea would pool $150 billion to be tapped in case they need to protect their currencies and another $200 billion would be set aside to buy equities, bonds and fund infrastructure projects, Olarn Chaipravat, Thailand’s deputy prime minister, said in an interview in Bangkok today….. Full Article: Source


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