HM Treasury News Release
102/97                                 21 August 1997
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ECONOMIC SECRETARY WELCOMES IMF SUPPORT FOR THAILAND

The UK today backed the economic programme being
implemented by the Thai authorities, which the IMF
today agreed to support with exceptionally large
access to IMF financial resources.  

Welcoming the IMF programme, Economic Secretary Helen
Liddell said:

   "As a major shareholder of the IMF, we believe
   that acting with the support of the IMF in this
   way is the right way for the Thai authorities
   to have handled their financial situation.  The
   IMF's Emergency Financing Mechanism was set up
   to deal with just this sort of eventuality and
   we fully support its use on this occasion.  
   
   "The Government will continue to monitor
   developments in the Thai economy with a keen
   interest and will continue to give our full
   support through the IMF and World Bank so long
   as the programme is adhered to.
   
   "Agreement on IMF support for this economic
   programme in Thailand is aimed at promoting
   greater financial stability throughout Asia, a
   region in which the UK has considerable
   economic and financial interests."
   

Notes to Editors

1. The programme was agreed today at a meeting in
Washington of the IMF Executive Board. 

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this news release at http://www.hm-treasury.gov.uk. 
Material on other Treasury issues can also be found
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