Showing 1 - 10 of 46
Financial crisis looms over Thailand
Oped, Chartchai Parasuk, Published on 25/01/2024
» The definition of an "economic crisis" is much debated in Thailand. This is because one of the requirements for enacting the emergency fiscal borrowing decree is that the economy must be in crisis.
Debtors rock but creditors may not roll
Oped, Published on 26/12/2023
» In its latest World Economic Outlook, the International Monetary Fund (IMF) reported that a rising share of countries -- 56% of low-income countries and 25% of emerging markets -- are "in or at high levels of debt distress".
A tale of liquidity and (too much) debt
Oped, Chartchai Parasuk, Published on 05/10/2023
» Before starting the article, I want to convey a message to the government. The message is "Nothing is free; everything has to be paid for". Acting like Santa Claus is nice, but the government should be aware that every handout gift comes with a price tag.
Addressing the great debt conundrum
Oped, Published on 30/09/2023
» The exponential growth of international capital flows, predominantly in the form of debt, has been one of the great development successes of the past 50 years. But while foreign lending has played a pivotal role for developing economies, loans are a two-edged sword. When used judiciously, they can generate high returns, boost GDP growth, and improve the well-being of borrower countries. But if debts accumulate and the debt-servicing burden increases without a commensurate increase in repayment capacity, the consequences can be severe and even disastrous.
Why do I smell tom yum kung cooking?
Oped, Chartchai Parasuk, Published on 10/08/2023
» Readers who follow my bi-weekly economic column will have no doubt that the tom yum kung I am referring to is not a traditional Thai soup dish but the financial crisis of 1997.
Financial systems failing Africa
News, Published on 23/06/2023
» The United Nations Secretary-General, António Guterres, recently sounded an ominous alarm bell. The Sustainable Development Goals (SDG), which aim to significantly reduce poverty around the world and create a better quality of life for all, are off track, he warned.
A world of debt is in need of more flexibility
Oped, Published on 30/05/2023
» Recent headlines seem to augur a global debt crisis. The US is teetering on the precipice of a self-inflicted default. Egypt, Ghana, Pakistan, and other countries face grave financial difficulties. And the Chinese are delaying or hampering multilateral efforts to restructure low- and middle-income countries' debt.
China and the sovereign-debt time bomb
Oped, Published on 24/01/2023
» International capital flows have long been a major source of economic growth. Savings in higher-income countries have financed high-yielding investments in low-income countries, generating benefits for all. After World War II, capital flows under the Marshall Plan drove the rapid reconstruction of Europe, and after those countries recovered, they extended their own foreign aid and other official financial flows to the developing world. Private financing also increased substantially; by the 1990s, it accounted for over half of total capital flows to developing countries.
Of debt and bondage with Beijing
Oped, Brahma Chellaney, Published on 26/11/2022
» Recently released details of Kenya's 2014 loan agreement with China to finance a controversial railway project have once again highlighted the predatory nature of Chinese lending in developing countries. The contract not only imposed virtually all risk on the borrower (including requiring binding arbitration in China to settle any dispute), but also raised those risks to unmanageable levels (such as by setting an unusually high interest rate). With terms like that, it is no wonder some countries around the world have become ensnared in sovereignty-eroding Chinese debt traps.
Cambodia and Laos in the regional mix
Oped, Thitinan Pongsudhirak, Published on 30/09/2022
» As geopolitical tensions from Russian aggression in Ukraine and the ongoing United States-China rivalry intensify, Southeast Asia will be hard-pressed to maintain peace and security. Despite their relatively small size, Cambodia and Laos are two countries whose political trajectories will shape regional outcomes. While Cambodia has consolidated domestic political power with dynamic economic expansion, Laos is looking like a regional laggard facing a deep debt crisis. As Cambodia moves forward, Laos is at risk of being left behind.