PacMan joins the race, baht set for further falls

PacMan joins the race, baht set for further falls

The next presidential election in the Philippines is not until May, but the contest is already generating plenty of headlines with former boxing world champion Manny Pacquiao (PacMan to his fans) this week announcing his intention to run. He is joined by several other presidential hopefuls, including a former actor and two children of former presidents. We will have more to say once the candidates outline their policy platforms, but the uninspiring list of presidential hopefuls bodes poorly for the country’s prospects. Meanwhile, policymakers in Thailand appear unfazed by the recent decline in the baht, which fell by over 4% against the US dollar last month. We think further weakness is likely over the coming year.
Gareth Leather Senior Asia Economist
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