Thailand to stop asking for overseas aid

Thailand will stop seeking financial aid from other countries next year, after paying the last of its loans with the International Monetary Fund this year, the Bangkok Post reported, citing Prime Minister Thaksin Shinawatra.

All ministries shouldn't seek donations or ask for loans from abroad, the newspaper quoted Thaksin as saying. He spoke yesterday at a cabinet meeting in Hua Hin, 200km south of Bangkok. Thailand has a lot of money, and the country can generate more, the paper reported, citing Thaksin.

All problematic state-owned companies must be reorganized, and those that cannot be reorganized would be closed, the paper said. Next year, all profitable state enterprises must be listed on the Stock Exchange of Thailand, it said, citing Thaksin.

Thailand, Southeast Asia's second-biggest economy, had a current account surplus of US$580 million in October. Its foreign-exchange reserves are at US$40.6 billion, up 7.6 percent from a year ago.

Thailand in July made the last payment on the US$12.3 billion it drew from the IMF fund, Japan and others.