BOT chief Prasarn honoured

"The Bank of Thailand under Governor Prasarn's stewardship has been consistently proactive in tightening policy to combat rising inflation over the past year and has communicated its policy intentions well to both domestic and foreign businesses and investors," Emerging Markets editor Taimur Ahmad said on Saturday.

"His strong and decisive policy stance has enabled Thailand to maintain investor confidence and economic stability despite political uncertainty in the run-up to and aftermath of this year's general election."

The annual Emerging Markets Central Bank Governor and Finance Minister of the Year awards recognise the leading policymakers in each region. The awards are chosen by Emerging Markets' editorial team, taking into account the views of regional experts. The win

ners are announced in daily newspapers, with the award winning policy makers honoured at an annual awards ceremony during the IMF and World Bank annual meetings.

Emerging Markets is a unit of Euromoney Institutional Investor Plc, a provider of financial information worldwide.

Prasarn said he considers this award a recognition of the dedication of the staff of the Bank of Thailand, who have worked hard to ensure Thailand's sustainable economic and financial stability over the years.

"As the Bank of Thailand enters its 70th anniversary next year, our institution is faced with a great challenge to maintain price stability while sustaining growth in the midst of heightened global economic and financial risks," he said.

He said the central bank does not have the luxury of taking a wait-and-see approach, but must continue to try to manage external spillovers on the economy and financial system, adding that with continued volatile global capital movements, central banks in emerging markets need to ensure that financial institutions and markets remain robust.