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Article: JAPAN, THAILAND EXTEND CURRENCY PACT TO PREVENT FINANCIAL CRISIS.
- Article from:
- AsiaPulse News
- Article date:
- July 11, 2007
CopyrightCOPYRIGHT 2007 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BANGKOK, July 11 Asia Pulse - Japan and Thailand Tuesday expanded an existing currency swap agreement with their intention to resolve balance of payments and short-term liquidity issues in case either country needed financial assistance, according to a senior Thai Finance Ministry official here.
Fiscal Policy Office director-general Pannee Sathavarodom said the agreement was part of the pact between the 10-member Association of Southeast Asian Nations (ASEAN) plus China, South Korea and Japan during the Chiang Mai Initiative on bilateral currency transfers established in May 2000.
Under the agreement made between Thailand and Japan, Tokyo will now offer ...