Despite a 19% rise in its stocks last year, Thailand still has big problems such as bad loans and a budget deficit
Thailand calls itself the 'Land of Smiles'' and, these days, many investors couldn't agree more. Growth in the neighbourhood of 5%, a burgeoning consumer sector and last year's 19% advance in Thai stocks are attracting lots of attention, and capital. In July, Bangkok will finish paying back the $12bn it borrowed from the International Monetary Fund during the 1997 Asian crisis. Five-and-a-half years after its chastening by markets, Thailand is back on investors' radar screens. For good reason, given Bangkok's success in strengthening the financial system and making the economy less...
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