Thailand's economic crisis in 1997, or well known, on behalf of the "Tom yum Kung crisis" refers to the economic crisis in the country, the Government of Thailand in General Chavalit Yong ensuring battle, the new head of the party of hope. Break point of the economic crisis. Occurs when the value of the baht, the Government announced. The weak baht, for example immediately in the morning July 2 1997 economic crisis. In addition, Thailand's private business has been severely affected. It also resulted in economic crisis throughout Asia, such as Malaysia, the Philippines, Singapore, and Korea Indonesia Russia and other countries to prop up the baht value and the financial status of the country. Bank of Thailand that there are almost no foreign currency reserves. Need to request a loan from the International Monetary Fund the amount of USD while 17200 million, Thailand's Government must accept the conditions the IMF set up, such as the arms budget will exceed 1 percent of gross product, balance of the country. Value added tax (VAT) will be charged from 7 percent to 10 percent, State enterprises must be processed, etc.
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