wowpow
September 3rd, 2006, 08:19
The Nation - Yala attacks - Bombings 'will not hit economy'
PM calls urgent meeting of ministers
Caretaker Prime Min-ister Thaksin Shin-awatra and his advisers yesterday came up with a preliminary assessment that the economic impact from the bombings of 21 commercial bank branches in Yala should be limited. The simultaneous explosions in the Muslim-majority southern province on Thursday morning left one person dead and at least 29 injured.
Thaksin called an urgent meeting with his caretaker economic ministers, including Deputy Prime Minister Somkid Jatusripitak, Finance Minister Thanong Bidaya, Bank of Thailand (BOT) governor Pridiyathorn Devakula, PM's Office Minister Suranand Vejjajiva and National Economic and Social Development Board (NESDB) secretary-general Ampon Kittiampon. After the meeting, the ministers were informed that structural damage was not severe. The banks and their ATM machines are set to resume operations on Monday. Thanong said: "Banks will repair the damage over the weekend. I believe the situation should not spill over."
Pansak Vinyarat, the premier's chief adviser, said the BOT had reported to the meeting that there should be no problems with bank transactions, including those by ATM. Everything should function as normal on Monday. He said the attacks should not have an impact on the overall economic picture. He was more concerned about the oil-price rise and asked people to save energy.
Pridiyathorn said Ampon informed ministers of the economic report for the second quarter this year, but he refused to disclose precise details pending an NESDB press conference on Monday. Economic growth in the second quarter turned out to be better than the original expectation of 4.7 per cent but less than the 6.1 per cent of the first quarter, he said.
Yongyudh Amatayakul, BOT communications director, said all commercial banks in Yala, Pattani and Narathiwat provinces would be open on Monday from 9am.
The BOT is considering a request from the Thai Bankers' Association for flexibility in opening hours for safety reasons as well as other measures to ensure the safety of customers and staff.
Yongyudh said the damage from the bombs was not very severe, with 21 branches damaged out of a total of 92 in the deep South.
Thanong said that the Fourth Region Army was providing security for the specialised banks of the government. He added: "I admit that the bombs will affect investors' confidence. The South has a unique problem, different from others. We have to work together to help solve the problem. It may take some time. The overall economic activities in the South have relatively improved from in the past." Thanong said this year's economic growth should be around 4.5 per cent after growth in the first half topped 5 per cent. "It is a good growth rate and better than we had expected," he said. However, he was concerned that economic growth in the first half of next year would be only 2.7 to 2.8 per cent, partly because the budget disbursement was put on hold. Second-half growth should improve after the budget is passed.
Siam City Bank said the explosions damaged two of its branches in Betong and Yala. Its ATM at Yala was broken, but employees and customers were safe.
The Islamic Bank of Thailand closed two of its branches in Yala. One will open on Monday but the other had more damage and will not open until September 11.
Militants, many dressed as students, left bombs at banks across Yala. Many were hidden in books."
My reaction is that 21 bomb explosions, no matter how small, is going to damage tourism to some degree.
PM calls urgent meeting of ministers
Caretaker Prime Min-ister Thaksin Shin-awatra and his advisers yesterday came up with a preliminary assessment that the economic impact from the bombings of 21 commercial bank branches in Yala should be limited. The simultaneous explosions in the Muslim-majority southern province on Thursday morning left one person dead and at least 29 injured.
Thaksin called an urgent meeting with his caretaker economic ministers, including Deputy Prime Minister Somkid Jatusripitak, Finance Minister Thanong Bidaya, Bank of Thailand (BOT) governor Pridiyathorn Devakula, PM's Office Minister Suranand Vejjajiva and National Economic and Social Development Board (NESDB) secretary-general Ampon Kittiampon. After the meeting, the ministers were informed that structural damage was not severe. The banks and their ATM machines are set to resume operations on Monday. Thanong said: "Banks will repair the damage over the weekend. I believe the situation should not spill over."
Pansak Vinyarat, the premier's chief adviser, said the BOT had reported to the meeting that there should be no problems with bank transactions, including those by ATM. Everything should function as normal on Monday. He said the attacks should not have an impact on the overall economic picture. He was more concerned about the oil-price rise and asked people to save energy.
Pridiyathorn said Ampon informed ministers of the economic report for the second quarter this year, but he refused to disclose precise details pending an NESDB press conference on Monday. Economic growth in the second quarter turned out to be better than the original expectation of 4.7 per cent but less than the 6.1 per cent of the first quarter, he said.
Yongyudh Amatayakul, BOT communications director, said all commercial banks in Yala, Pattani and Narathiwat provinces would be open on Monday from 9am.
The BOT is considering a request from the Thai Bankers' Association for flexibility in opening hours for safety reasons as well as other measures to ensure the safety of customers and staff.
Yongyudh said the damage from the bombs was not very severe, with 21 branches damaged out of a total of 92 in the deep South.
Thanong said that the Fourth Region Army was providing security for the specialised banks of the government. He added: "I admit that the bombs will affect investors' confidence. The South has a unique problem, different from others. We have to work together to help solve the problem. It may take some time. The overall economic activities in the South have relatively improved from in the past." Thanong said this year's economic growth should be around 4.5 per cent after growth in the first half topped 5 per cent. "It is a good growth rate and better than we had expected," he said. However, he was concerned that economic growth in the first half of next year would be only 2.7 to 2.8 per cent, partly because the budget disbursement was put on hold. Second-half growth should improve after the budget is passed.
Siam City Bank said the explosions damaged two of its branches in Betong and Yala. Its ATM at Yala was broken, but employees and customers were safe.
The Islamic Bank of Thailand closed two of its branches in Yala. One will open on Monday but the other had more damage and will not open until September 11.
Militants, many dressed as students, left bombs at banks across Yala. Many were hidden in books."
My reaction is that 21 bomb explosions, no matter how small, is going to damage tourism to some degree.