Thailand: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Thailand
IMF Staff Country Reports, June 3, 2021
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- Thailand: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Thailand
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- Published: June 3, 2021
- Series: IMF Staff Country Reports
Summary and Near-Term Outlook
- A nascent recovery is underway in Thailand following the COVID-19 downturn.
- Ample policy buffers, underpinned by judicious management of public finances, allowed the authorities to implement a multipronged package of fiscal, monetary, and financial policies to mitigate the COVID-19 impact on households, businesses, and the financial system.
- Rigorous containment measures led to a successful flattening of the infection curve during most of 2020.
- Nevertheless, the pandemic has taken a large toll on the economy, potentially inducing long-term scarring and increasing inequality.
Policy Response and Areas Covered
- Fiscal policy: multipronged fiscal measures to support households and businesses.
- Monetary policy: actions by Bank of Thailand's Monetary Policy Committee (referenced among keywords).
- Financial sector measures: policies to mitigate stress on financial institutions and maintain financial stability.
- Public health measures: containment strategies and vaccination planning referenced (pace of vaccination; vaccination plan; vaccine brand).
- External sector: tourism and trade balance highlighted as key channels affected by the shock.
- Cross-cutting themes in the report: COVID-19, Economic sectors, Financial institutions, Fiscal policy, Fiscal stimulus, Health, International organization, International trade, Loans, Monetary policy, Tourism, Trade balance.
Keywords (as provided)
- Bank of Thailand 's Monetary Policy Committee
- COVID-19
- Fiscal stimulus
- Global
- government's reopening plan
- Loans
- pace of vaccination
- Tourism
- Trade balance
- U.S. dollar
- vaccination plan
- vaccine brand
International Monetary Fund. Asia and Pacific Dept "Thailand: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Thailand", IMF Staff Country Reports 2021, 097 (2021).
Content in this bundle
- 1thaea2021001