Rice scandal appears in The Economist
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It has not been a happy second anniversary for the government of Yingluck Shinawatra, The Economist said in an article appearing in this week's edition.
The article titled "The rice mountain" starts with the tag line "An increasingly popular government sticks to its worst and most costly policy".
The article in the August 10 edition summarised negative reports on the rice-pledging scheme, which has carried a high financial cost. It went on that the scheme has also led to the piling up of stockpiles and the government's failure to release the stockpiles.
"Meanwhile, daily revelations of incompetence and corruption surrounding the rice scheme take their toll on the government’s standing, and investors fret about the wider effect on the public finances. Government debt levels are rising, and Moody’s, a ratings agency, has warned of the risk that the rice scheme poses to the country’s fiscal discipline."
