BANGKOK (Reuters) -Thailand is urging its banks to help increase liquidity, the country’s new Prime Minister Anutin Charnvirakul said on Monday, as the incoming government took its first steps to revive a struggling economy and bring its soaring currency under control.
Deputy Prime Minister and Finance Minister Ekniti Nitithanprapas said he was setting up a team to address the rapid rise in the value of the baht, which reached a four-year high last week, putting key economic drivers like tourism and exports at risk.
Both Anutin and Ekniti were speaking after a meeting with the Thai Bankers’ Association.
Ekniti said the government will seek to revive the economy and achieve a short-term recovery with long-term impact.
“We are emphasising restructuring the economy … especially household debt, which has been a persistent issue,” he said.
(Reporting by Orathai Sriring, Kitiphong Thaichareon, Thanadech Staporncharnchai, Chayut Setboonsarng; Editing by David Stanway)
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