BANGKOK: Prime Minister Thaksin Shinawatra declared Thailand free of its debt to the International Monetary Fund (IMF) on Thursday, after a final repayment was made two years ahead of schedule.
Thaksin said the last installment of 60 billion baht (RM5.4bil) was made to the IMF and the Bank of Japan.
“We are now free from the commitment that we made to the IMF,” he said.
After the regional economic crisis hit in 1997, Thailand was granted an IMF financial package worth US$14.5bil (RM55bil), eventually drawing down US$12.9bil (RM49bil) from the fund. – AFP
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