Meet the hate Yingluck “Spin Doctors” at Bangkok Post, Nation & Reuters on Fitch Rating News

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Well, the hate Yingluck “Spin Doctors” at Bangkok Post, Nation and Reuters are all out in force, doing the usual “Burn down the house” meaning Thailand, to catch the mouse, meaning Thaksin and Yingluck. What is new with “Agenda Based Reporting” and does not anyone just “Report the News” anymore? And what is it with Bangkok Post, Nation and Reuters, that loves to run nasty report on Thailand’s government, quoting mysterious and un-named sources? I mean between them, over the past 2 years since Yingluck came to power, I have seen them quote 100s of these mysterious and un-named sources.

Bangkok Post says: Fitch Ratings is maintaining its stable outlook for Thailand’s sovereign credit rating despite a slew of risks………

Nation says: Thailand faces challenge to sustain credit rating: Fitch. Despite the country’s economic outlook remaining positive, Fitch Ratings says………….

Reuters say: Fitch: Rising Regional Risks Could Erode Thailand’s Resilience………….

However, the essence of what Fitch said follows:

Andrew Colquhoun, head of Asia-Pacific sovereigns at Fitch Rating, said the Thailand’s sovereign outlook remained “stable” for the next two to three years, thanks to strong public finances, macroeconomics and external factors. However, Thailand’s level of development lags behind its “BBB” peers, despite its credit rating of “BBB+“, because gross domestic product per capita is lower than a “BBB” median rating, while private-sector credit to GDP is higher than a “BBB” median rating, he said. Thailand has strong reserves and moderate public debt, which could provide a considerable buffer, and the economy has not been afflicted with the kind of global economic volatility experienced by Indonesia or India, he said. Colquhoun said the reduction of current-account surplus, low interest rates and rising fiscal deficits, coupled with high private-sector debt, were outliers among emerging Asian economies that could still prove to be sources of weakness.

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