Thai Official AI Aid for Small Biz, Fed Praises Crackdown
Thailand’s Deputy Prime Minister Ekannit Nitithatthaprasat highlighted the ‘Nok Grasib’ AI project at the IMF–World Bank meetings, showing how simple AI can help small traders access loans. He praised the country’s fiscal discipline, promoted the Bangkok Blueprint to combat scammers, and noted international praise from the World Bank president and the Federal Reserve chairman. Ekannit urged Thailand to leverage its place in the global AI supply chain to invest in workforce development and future growth.
Ekannit added that IMF Managing Director Kristalina Georgieva thanked and praised the Thai people, quoting King Rama IX’s royal speech that policies must aim to improve citizens’ livelihoods and place people at the centre of economic development. He said the IMF stressed fiscal discipline, noting that Thailand’s 10‑year government bond yield is around 2.3‑2.4 percent, far lower than the United States’ rate above 5 percent and higher than Europe and Japan’s costs, which shows strong market confidence. However, he warned that the key lesson from the meetings is not just maintaining stability but actively investing for future growth rather than waiting for the economy to improve on its own. Thailand, as part of the global AI supply chain, must seize the opportunity to develop its workforce by using modern investment and AI to upgrade skills, boost competitiveness and raise incomes, in line with the IMF’s global advice. Regarding his meeting with Federal Reserve Chairman Kevin Warsh, Ekannit said they discussed cracking down on dark money and scammers; Warsh praised Thailand’s efforts while the Prime Minister gave concrete examples of the government’s seriousness in tackling the problem. Ekannit explained the “Connect the Dots” approach — linking data and coordinating among agencies such as the police, the Bank of Thailand and security units — after each had worked in isolation; solving today’s problems requires systematic information sharing and joint action. He also exchanged views on this approach with the United States Deputy Finance Minister (the source cuts off here).
