Press Release: Thailand Completes Early Repayment of 1997 Stand-By Arrangement
IMF News, July 31, 2003
Source details
- Canonical URL
- Press Release: Thailand Completes Early Repayment of 1997 Stand-By Arrangement
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Bibliographic details
- Authors: Arrangement Press Release No.
- Published: July 31, 2003
Event summary
- Press Release No. 03/131
- Date: July 31, 2003
- Thailand completed an early repayment of its outstanding obligations to the International Monetary Fund under a Stand-By Arrangement (see Press Release No. 97/37).
- Under the original schedule, the final repayment of outstanding loans from the IMF would have taken place in 2004.
Financial details
- Repayment made by Thailand on July 31: SDR 68.75 million (about US$96 million).
- Total drawings under the SDR 2.9 billion (about US$4 billion) Stand-By Arrangement amounted to SDR 2.5 billion (about US$3.5 billion).
Official statement
- Mr. Horst Köhler, the Managing Director of the IMF, stated:
- "Thailand's ability to repay the IMF ahead of schedule reflects a strong macroeconomic and balance of payments performance over the past few years. This success has been underpinned by a sound policy framework, for which the government and the Bank of Thailand should be congratulated."
International Monetary Fund