09.12.2015 - Thailand: Sovereign wealth fund not a goal for central bank
The Bank of Thailand is not pursuing a path towards the creation of a sovereign wealth fund, but rather seeking greater flexibility in managing foreign reserves to cope with volatility in the year ahead. Like his predecessor, Prasarn Trairatvorakul, newly appointed BOT Governor Veerathai Santiprabhop does not support the idea of financing government projects with foreign reserves. "The reserves do not belong to any government," he bluntly said in an interview, when asked about the possibility. "Rather, it is the money of all Thais, aimed at maintaining the stability of international transactions." Reserves are accumulated in line with foreign inflows, therefore all parties must be mindful when the capital exits the country, he added...............................................Full Article: Source
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