User:Tiktoker4434/sandbox

Background
The year 1997 was the 216th year of the Rattanakosin Kingdom of Thailand. It was the 52nd year of the reign of King Bhumibol Adulyadej (Rama IX) and is reckoned as the year 2540 in the Buddhist Era. It is most significantly marked by the 1997 Asian financial crisis, which began when the Bank of Thailand floated the baht on 2 July, as well as the promulgation of the 1997 Constitution of Thailand. The events that occurred in 1997 in Thailand are the 216th year of Rattanakosin and the 52nd year of the reign of King Bhumibol Adulyadej the Great

Incumbents

 * King: Bhumibol Adulyadej
 * Crown Prince: Vajiralongkorn
 * Prime Minister:
 * until 9 November: Chavalit Yongchaiyudh
 * starting 9 November: Chuan Leekpai
 * Supreme Patriarch: Nyanasamvara Suvaddhana

Events
On May 14-15, 1997, the Thai baht was hit by a massive speculative attack. On June 30, 1997, Prime Minister Chavalit Yongchaiyudh announced that the baht would not be devalued. However, Thailand did not have foreign exchange reserves to support the US dollar-baht peg, and eventually the Thai government decided that he was forced to float the baht on July 2, 1997, and that the value of the baht was fixed by the foreign exchange market. is now available. This set off a chain reaction of events that ultimately led to a regional crisis.

Thailand's booming economy has stalled due to massive job cuts in finance, real estate and construction, sending large numbers of workers back to rural areas and sending 600,000 foreign workers back to their home countries. The baht has fallen rapidly, losing more than half of its value. In January 1998, the baht hit a low of 56 baht against the dollar. Thai stock market he fell 75%. Finance One, the largest financial company in Thailand at the time, went bankrupt.

On August 11, 1997, the IMF announced her over $17 billion bailout for Thailand. This included conditions such as passing bankruptcy laws (restructuring and restructuring) and creating a strict regulatory framework for banks and other financial institutions. On August 20, 1997, the IMF approved another $2.9 billion in relief. Poverty and inequality have increased as a result of the crisis, while jobs, wages and social protection have declined.

After the Asian financial crisis of 1997, income in the Northeast, the poorest region of the country, increased by 46% from 1998 to 2006. The national poverty rate he dropped from 21.3% to 11.3%. Thailand's Gini coefficient, a measure of income inequality, fell from 0.525 in 2000 to 0.499 in 2004 (from 1996 he had increased from 2000).

By 2001, Thailand's economy had recovered. Increased tax revenues allowed the country to balance its budget and repay its debt to the IMF in 2003, four years ahead of schedule. In October 2010, the Thai baht rose to 29 baht against the dollar.

May 14 – Asian Economic Crisis of 1997: The Bank of Thailand's executives voted to intervene in the baht without limitation. and spent more than $10 billion or 250 billion baht to protect the baht from speculators attacks

July 2 – 1997 Asian Economic Crisis: The Thai government announces a change in the exchange rate system. From a money basket system to a semi-managed floating exchange rate system. causing the Thai baht to decline dramatically.

October 11 – Promulgation of the Constitution of the Kingdom of Thailand B.E. 2540

November 1 - Thai Sky TV Station Broadcasting ceased at 6:00 AM.

November 6 – General Chavalit Yongchaiyudh submits a letter of resignation from the position of Prime Minister.

November 9 – Chuan Leekpai assumes the position of Prime Minister for a second term, following General Chavalit Yongchaiyudh.

Feedback


 * 1) Please add lead section and table of content.
 * 2) Content in background is repeated.
 * 3) You have written very little content for this topic.
 * 4) References? External links? added ka