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Thailand - Possible SWF
Country: Thailand
Established: N/A
US$ Billion: N/A
Origin: Non-commodity
Summary:
In the first quarter of 2008, the IMF reported International reserves and foreign currency liquidity to be U.S. $109.9 billion. In April of 2008, Bank of Thailand Governor Tarisa Watanagase stated that the Bank would investigate the possibility of establishing a sovereign wealth fund.
News and Updates
11/14/2009
Thailand says not ready for sovereign wealth fund
According to Reuters, "Thailand sees no need to set up a sovereign wealth fund, unlike many of its neighbours that are looking to earn higher returns on their foreign reserves, Thai Finance Minister Korn Chathikavanij said on Saturday.
"I don't it is the right time for Thailand to set up a sovereign wealth fund as we can't be too confident that the foreign reserves we have now will be sustainable in the longer term," Korn told Reuters in an interview.
"If we decide to tap the foreign reserves to set up a wealth fund to invest overseas, our current account surplus could turn into deficit, which could undermine investor confidence," Korn said on the sidelines of an Asia-Pacific summit in Singapore.
Thailand's reserves have risen 22 percent to $135.7 billion as of Nov. 6 from the end of last year, due to a trade surplus and currency inflows. The baht currency THB= has gained nearly five percent against the dollar this year. Korn said Thailand still lacks "highly credible" financial institutions that could provide good corporate governance and capable fund managers to run such a fund."
read more: Reuters
5/13/2008
Thailand considers setting up a sovereign wealth fund
Thailand has reserves stemming from non-commodity sources. The central bank is seeking a feasibility study to see if it is beneficial or not to invest their foreign reserves into other asset classes. Another hot topic in the discussion is to see whether the fund would seek strategic controls in companies or to just purely seek higher investment returns.
According to the Nation, “The Bank of Thailand will conduct a thorough feasibility study before making a decision on whether to establish a sovereign wealth fund, Governor Tarisa Watanagase said last week.”
read more: The Nation
Location
Website
Ministry of Finance of Thailand
Bank of Thailand
1. All figures quoted are from official sources, or, where the institutions concerned do not issue statistics of their holdings, from other publicly available sources.
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