Washington: In a significant move to bolster confidence among global financial stakeholders, Thailand’s Deputy Minister of Finance, Mr. Woraphak Thanyawong, and Mr. Winij Wisetsuvarnabhumi, Director-General of the Fiscal Policy Office, emphasized the nation’s commitment to fiscal discipline during the 2025 Annual Meetings of the World Bank and the International Monetary Fund (IMF) in Washington, D.C.
According to Thai News Agency, the Thai delegation engaged in crucial discussions with credit rating agencies Moody’s, Fitch, and S and P, reiterating Thailand’s dedication to maintaining a disciplined fiscal policy. This commitment is part of a broader strategy to ensure long-term economic stability and sustainable growth, balancing short-term economic stimulus with prudent management of government revenue and expenditure.
During the meetings, key challenges facing the global economy were highlighted, with the IMF outlining three major policy guidelines to address uncertainties in public debt and financial market volatility. These include strengthening fiscal positions, achieving economic balance, and enhancing growth potential through innovation and AI technology. The World Bank has also prioritized job creation, aiming to support a global workforce of 1.2 billion over the next decade and a half.
The Deputy Minister underscored the Thai government’s focus on job creation, especially among the youth, and the development of a conducive business environment for investment. This includes upskilling the labor force to thrive in an AI-driven economy, fostering economic resilience, and promoting sustainable growth.
In bilateral meetings with the US-ASEAN Business Council and the US Chamber of Commerce, the Deputy Minister discussed policies to attract foreign investment and develop Thailand’s digital economy. The emphasis was on creating a robust, transparent financial ecosystem and promoting cloud technology to enhance operational efficiency.
Further discussions were held with representatives from PayPal and BlackRock, focusing on digital economy trends, financial infrastructure development, and secure electronic payment systems. The Deputy Minister highlighted Thailand’s strong debt management capabilities, especially in foreign currency debt, illustrating the country’s financial stability.
Thailand also engaged in dialogue with other ASEAN finance ministers and global financial leaders on enhancing regional connectivity and economic resilience. The discussions included support for regional financial cooperation mechanisms like the Chiang Mai Initiative Multilateralisation (CMIM) to mitigate the impact of global economic volatility.
As Thailand prepares to host the 2026 World Bank and IMF Annual Meetings, the Deputy Finance Minister confirmed the nation’s readiness and commitment to the event. This will serve as a platform to showcase Thailand’s potential as a hub for regional economic, financial, and sustainable development.