Ladies and gentlemen… I call the God Of The Translation Mistake… If he doesn’t answer my prayer… then I’m afraid we might have the dumbest Prime Minister. Ever. Albeit… Samak was himself a world class winner.
Prime Minister Abhisit Vejjajiva on Wednesday expressed confidence that the country’s gross domestic product (GDP) growth will not be the lowest in the world. (Bangkok Post)
I know what you think. You think about Benny Hill. 😉
But it’s not finished.
The premier said he also assigned investment agencies to gather more information from Thailand’s trading partners.
Sure… Trade is collapsing worldwide (look here)… But Abhisit needs more information. Of course.
There is only one interesting statement in this mountain of nonsense.
“Although some people want the baht value to be weaker, its value should be close to other regional currencies,” said Mr Abhisit.
That’s a clear different music from the regular thai politicians (who are calling for a weaker THB in order to boost exports).
By saying this, Abhisit is sticking to the official position of the Bank Of Thailand who said a few days ago (read my article) :
On exchange rate policy, Dr Tarisa said the baht had been stable relative to regional currencies. A policy to push the baht weaker would only hurt confidence.
“A weak currency shows that a particular country has a confidence problem,” she said.
This is interesting. Even though this kind of official harmony and agreement sounds to me highly suspicious…
It’s not really… normal.
The normality is when politicians ask for weaker currency and lower interest rates, and when the central bank resists such calls. 😉