New problems to solve old ones

I think the reason Deputy PM and Finance Minister Kittiratt Na-Ranong sees the need for a cheaper Thai currency at the moment is to facilitate the export of Thai rice, which the government has bought at Bt15,000 per tonne from farmers under its rice-guarantee scheme.

The government has priced Thai rice out of the world market.

However, solving the problem by weakening the baht is a very dangerous route to take for it would likely ignite another round of currency speculation that could cause an economic meltdown again.

Thais should be careful about letting their government solve a problem of its own making by creating another big problem for the country. 

Vint Chavala

Lamphun