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On paper it didn’t look good. The economic results were poor, Moody’s had downgraded the country’s sovereign debt rating and, at what looked like exactly the wrong moment, the Federal Reserve hiked interest rates. But in April, Thailand managed to launch a US$600 million yankee bond which was actually oversubscribed. Its success followed a series of roadshows in the us presented by finance minister and deputy prime minister Amnuay Viravan, and Bank of Thailand governor Rerngchai Marakanonda. |
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