Moody's: Political, economic challenges persist

Charter referendum votes are counted in Bangkok's Don Muang district last Sunday. On Thursday Moody's Investors Service says the approval of the new constitution will only reduce near-term uncertainty in the country. (Photo by Tanaphon Ongarttragoon)

The approval of the new constitution at a referendum on Sunday may reduce near-term uncertainty but political and economic challenges persist in Thailand, Moody's Investors Service stated on Thursday

"While the 'yes' vote anchors near-term political stability by paving the way for general elections, it does not resolve the underlying polarisation that led to the military coup in 2014. Moreover, given sluggish external demand, any fillip to sentiment from the vote is unlikely to tangibly bolster economic growth," says the bond credit rating organisation.

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