The Thai central bank will scrap remaining capital controls for foreign investments in bonds, mutual funds and property funds on Thursday following the resignation of the Finance Minister Pridiyathorn Devakula yesterday. A major issue now is who will succeed Devakula, who resigned on Wednesday after citing disagreements within the government over the appointment of an economic adviser. "Pridiyathorn built up a reputation as a shrewd economic observer during his time as head of the Bank of Thailand and gave the government some much needed economic clout," said Glenn Levine, an economist at Moody's Economy.com Web site. "With him now gone there is no telling what crazy ideas the interim government will come up with."
MarketWatch
MarketWatch