Middle-east Arab News Opinion | Asharq Al-awsat

Thai banker ordered to pay $4.6bn - ASHARQ AL-AWSAT English Archive
Select Page

Bangkok, June 1, SPA — The central bank governor who presided over Thailand”s 1997 financial crisis has been ordered by a court to pay back the 180 billion baht ($4.61 billion) plus interest of reserves he spent trying to defend the currency.

The civil court of Bangkok has given Rerngchai Marakanond one month to reimburse the bank of the funds plus 7.5 percent interest, or face seizure of his personal assets.

&#34The court finds that the defendant committed grave negligence by using the country”s foreign reserves until they went into deficit,&#34 the judgment said, according to a report on news service Reuters.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

More Posts

Follow Me:
FacebookGoogle PlusYouTube