Myanmar's debt clearance will benefit Thailand, says analyst

Thailand to gain from Myanmar debt clearance

Published: 28 Jan 2013 at 13.51
Online news: News

The clearance of Myanmar's debt by the World Bank group would benefit Thailand and spur economic activity in Southeast Asia, security analyst Surachart Bamrungsuk said on Monday.

Mr Surachart, an associate professor at Chulalongkorn University, told the Bangkok Post that the agreement between the World Bank group and Myanmar to write off overdue debt should not only help accelerate development in Myanmar but also spur transactions within the region.

The clearance of arrears was announced in Washington on Sunday night (Bangkok time) by the World Bank and the Asian Development Bank (ADB). It followed the World Bank board of directors' approval on Jan 22 of US$440 million in re-engagement and reform support credit for Myanmar.

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2ploenchit
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Discussion 6 : 29 Jan 2013 at 00.426
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This is by no means a cancellation of debt, but the transformation of debt into investments into mining, oil, timber or whatever that undoubtedly are going to give far greater returns then the loans would ever have.

Creditors are not in the business of giving away money, especially not to a country like Myanmar which is incredibly rich in natural resources.
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ATNN
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Discussion 5 : 28 Jan 2013 at 21.435
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#1 I see shades of incompetence, nepotism, corruption, and big-brother's autocratic despotism in Yingluck - "pro-business leader?" Perhaps if you mean, "pro-sell your country out to foreign investors at the expense of 70 million people," then yes.
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ATNN
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Discussion 4 : 28 Jan 2013 at 21.324
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The Fortune 500 will benefit, Thailand's multinations will benefit, Myanmar's elite as well as "Sell-out Suu Kyi" are already benefiting - but what about the people of Myanmar, including the Rohingya? Something tells me they shouldn't hold their breath waiting for this gaggle of vultures to throw them even a scrap.
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Bangon
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Discussion 3 : 28 Jan 2013 at 20.593
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What? Is Myanmar/Birma going to pay back to Thailand the State loan Thaksin should never have pushed through in their favour (yes, OK, it was to sell stuff of his own to them, nothing to do with the Thai peopple, as usual, but one should not be too picky here, right, just imagine, the money might come back, Thais, who are not accustomed to pay back loans, would gasp, big time)... Nah, I must be dreaming this, won't happen anyway, or it'd be a downpayment for the Dawei bottomless pit...
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davidh
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Discussion 2 : 28 Jan 2013 at 15.532
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Cancellation of debt is not quite what it seems. Largely it's a method of repaying in part, creditors who have for some time been locked out of the process.
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Eric
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Discussion 1 : 28 Jan 2013 at 15.191
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Thailand is position well to be the hub for the resource rich and opening up of Mynmar, Cambodia and Laos. Just like Singapore benefitting from resource rich countries of Malaysia and Indonesia or Hong Kong to the mainland, Thailand will do well to provide communication, financing, logistics as well as investments. The economic potential in next 10 years is certainly very positive for Thailand. Thailand needs a pro business leader and we see shades of that in Yingluck.
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Myanmar's debt clearance will benefit Thailand, says analyst | Bangkok Post: business

Thailand to gain from Myanmar debt clearance

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