Capital control should be scrapped : Chatu Mongol

MR Chatu Mongol Sonakul, former Bank of Thailand's governor, said on Saturday that he agreed with Democrat leader Abhisit Vejjajiva's idea to scrap the 30-per-cent reserve requirement.

The former governor said the authorities can negotiation with currency speculators.

"If they don't obey, don't give them visa," Chatu Mongol said.

The central bank on December 19, 2006 implemented the 30-per-cent reserve requirement to reduce pressure of baht speculation. - The Nation

Wichit Chaitrong

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