A huge blow to Thailand's financial credibility

According to this article from The Nation, published Friday 22 December, the Bank of Thailand and Finance Ministry have shot themselves in the foot this week.

The introduction of wholesale capital controls to rein in baht speculation was done without an understanding of the capital market, the article says.

"If [MR Pridiyathorn Devakula, the deputy prime minister and finance minister] Pridiyathorn had failed to back off in time, the stock market would not have had anything left to sell. The

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