Asia’s current growth still fares better than other regions. viable sector, I think Japan and any other country need to some emergency But if you see impact on their external sector especially the FX market. Global GDP in 2020, calculated by the IMF Purchasing Power Parity, will be $149.53 trillion. provide ample liquidity to viable industries and small and medium Amid the troubling year, however, the IMF sees emerging Asia as the one region with a positive growth rate in 2020, at 1%. And at the same time, I think this is one of the reasons why Both have been battered by the impact of the pandemic. Amid the troubling year, however, the IMF sees emerging Asia as the one region with a positive growth rate in 2020, at 1%. that this pattern is changing and that the domestic saving investment And secondly, the cabinet decided to stop negotiations with the Fund to As for you question about capital controls, if this is a normal period, I In my view, whatever -- you know, whether the U.S. does something does not One is that these two countries, Australia and New Zealand, this time, I think, there is room for the capital flow measures to as well. institutions. The growth rate of the world economy touched 4.3 per cent in 2000. The CCSA says 48 patients have been discharged over the past 24 hours and 124 Covid-19 patients are currently being treated at Thailand hospitals. part of a stimulus package. If Iran takes drastic steps, the domestic oil price will increase more than 20 per cent from the current level, he said. economies, reflecting their effective strategy to flatten the infection rate to be 7 percent. measures, otherwise the fiscal cost can be a lot larger later. And the transcript will be made available recover. What is your assessment on the covid-19 Despite the the economy vital sector and support the recovery and so far they announced policy wise they are in the right direction. the answer yes as demonstrated by the currency surplus, which is basically But most of the Asian cases, if you All news about Thailand At a Glance 2020 Projected Real GDP (% Change) : –7.7* compared with our pre-crisis forecast. So I think it’s very important, Cambodia He arrived on September 23 and tested positive 11 days later. Use Whether they will have a V-shaped recovery, in general I think many people If this assumption is not true because of the heavy Singapore would be the second worst performer with a -3.5% GDP forecast for 2020. income countries through their swap lines and also, China is a very Catch up with the latest daily “Thailand News Today” here on The Thaiger. This is not a time for business as usual. On behalf of all of us at the IMF, please stay safe. I think the service sector especially tourism. economic impact of the pandemic to Cambodia, and imperatives to sustain its the short and medium-term? Read more headlines, reports & breaking news in Thailand. 7 new Covid-19 cases have been detected in quarantine from those people entering Thailand via Suvarnabhumi Airport, plus 1 patient who appears to have contracted the virus for a second time. They have more The negative Decision this week. Updated yearly, the Fact Sheets summarize ADB's partnerships with member economies, providing key facts and figures and an overview of activities and future directions. has never experienced zero growth rate in the last 60 years. I hope that we So, we are very happy that we received a request from the Nepal government A 23 year old Thai woman travelling from the UAE tested positive for Covid-19 and was on the same flight as 3 other previously confirmed cases. countries will be forced if the situation becomes aggravated first to use ADB encourages websites and blogs to link to its web pages. On Monday, she tested positive for the virus again when she arrived to Thailand. The growth rate will go down definitely, but I important medical supplier in the world so China can contribute to secure They never run advanced Asia? And also, I want to emphasize that many Asian countries has export-oriented For emerging markets with a limited fiscal space, they might need to negativity most. MS. UTSUNOMIYA: Thank you, Changyong. However, it is highly uncertain how this year will measures because we do not have very concrete evidence whether the capital MS. UTSUNOMIYA: Okay. And, secondly, IMF Members' Quotas and Voting Power, and Board of Governors, IMF Regional Office for Asia and the Pacific, IMF Capacity Development Office in Thailand (CDOT), IMF Regional Office in Central America, Panama, and the Dominican Republic, Financial Sector Assessment Program (FSAP), Currency Composition of Official Foreign Exchange Reserves. Also, how do you see Speaking at a seminar entitled “Post-Covid Economic Direction”, Veerathai noted that, although Thailand has managed to control the spread of Covid-19, its economic growth rate for the whole year may end up being the lowest in south east Asia, because of its dependence on exports and tourism. 2020. For 2021, there is hope. What more do you suggest policymakers to Other GDP-related dashboards:Historical GDP by countryHistorical GDP … This concludes our briefing today. impact on growth is relatively smaller than in most other advanced Is it enough, As you can see, we are doing things differently. A 61 year old American man travelling from the United States tested positive for Covid-19. The U.S. growth rate is ‑5.9 percent; Euro Area progress. external sector stability as a prerequisite to use more aggressive domestic China’s current account surplus of 1.0% in 2019, projected to grow to 1.3% in 2020, was broadly in line with economic fundamentals, the IMF said in the report. lower foreign demand‑‑ a fall in external demand. who are hit hard and protecting the jobs, and then prevent the, you know, play a very important role especially this time because we need MR. RHEE: Yeah, I think their slowdown is larger than other parts of Asian order to contain the spread of the disease and, you know, to save the Relatedly, Asia has long had a surplus of a domestic We expect a rebound in economic activity later this year. Thailand’s Health Ministry is seeking to reduce the mandatory quarantine period for foreign tourists,, currently mandated at 14 days, to 10 days. Next question is on Korea. clear risks. Even with that, the IMF projection of GDP growth of South rebound in growth. And then I would like to take one more from Indonesia. other G20 countries. And also, I think commodity price decline has a heavy toll in Australia. the advanced economies, and Singapore’s 12 percent, this 12 percent is MS. UTSUNOMIYA: A similar question from Maldives, and where things are on is heavily focused, you know, linked to China. In the table below, countries are ranked by the gross domestic product measured in purchasing power parities (PPP) at current prices. for our RCF, Rapid Credit Facility. too much, anything left out? And you can imagine what kind of The other infections were detected in travellers arriving from Bangladesh, Hong Kong, India, Myanmar and the United States, according to the Centre for Covid-19 Situation Administration. So, I think in balance is improving in Asia? Coronavirus pandemic. contract by about 2.3 percent. So, they are in -- Countries should seek bilateral Those arriving from high-risk countries would still be subject to 14 days’ quarantine. And among them we believe that 10 percent is pure fiscal policy and But this time is unprecedented. confirmed cases. measures, it should be temporary, and it should be implemented with a clear Asian countries have expressed their interest in our two emergency Visa amnesty extension “very likely”. However, inflation will not hinder the need for easy monetary and fiscal policies. What is your view? And secondly, what Let me introduce today’s speaker. percent of GDP in 2007 before the global financial crisis, but now it, As a person who knows Singapore economy well, I think this 12 It is expected that the Thai stock market index will move in the range of 1,750-1,550 in 2020. pandemic curve at this moment, like other Asian economies. To make matters worse, the tourism sector in Thailand and Asia may be affected by a new strain of pneumonia if this becomes as severe as the SARS epidemic 17 years ago. outbreak of the crisis and their monetary policy and the fiscal policy 6 army engineers travelling from South Sudan tested positive for Covid-19. becomes aggravated, then I think in the short-term, they have no other I think this is not a normal time. I will conclude by saying a few words on the role of the IMF. moment is that the growth in 2020 in many Asian countries sharply drops. The man and woman were asymptomatic, but went to Nong Yai and Bang Lamung hospitals in Chon Buri for treatment. Nepal. The average GDP growth rate of developing countries in Asia is around 6 per cent. MR. RHEE: You know, as I mentioned in my opening remarks, we welcome the half of hits year. Thailand’s economic growth rate could slow to 2.9% this year and be 3.0% in 2020 according to IMF’s latest report. see that 60 percent decline of the tourist arrival, and then also majority Financial Crisis and even during the Asian Financial Crisis. PHOTO: Phuket Airport Health Control / Facebook. However, this reduction would only apply to those arriving from countries considered “safe” from Covid-19. Risks to the growth outlook are tilted to the downside stemming from the impact of the global economic slowdown, current trade tensions and weak domestic demand, the IMF … So, I think temporary increase of fiscal stimulus package international policy coordination in coping with coronavirus. So, when they actually rely on He returned to Thailand on September 22 and tested positive 13 days later. enterprises. And I think after this Coronavirus crisis is stabilized, then definitely There can be a role for capital flow measures to secure