Premier welcomes reforms

Thai Prime Minister Chuan Leekpai has revealed a far more friendly face than his Indonesian counterparts in a speech welcoming the West's economic reform programme in his country.

Acknowledging Bangkok's past economic policy mistakes, Mr Chuan said: 'Our relationships with the International Monetary Fund is key to the revival of market confidence and economic recovery.' In a speech to the Council on Foreign Relations in New York, the visiting premier - who moved on to Washington yesterday for talks with President Bill Clinton, the IMF and financial officials - said Thailand's economy was in for further tough times, but predicted the worst was over.

'I believe we are moving in the right direction,' Mr Chuan said.

'It is also my hope that our friends and partners will assist us during this critical period of economic adjustment, building upon the momentum we have already started as we turn the corner.' Mr Chuan's comments came as the US Treasury Department announced the date of April 16 for the meeting of 22 world finance ministers in Washington - called by Mr Clinton to discuss measures to adapt to the globalisation problems exposed by the Asian meltdown.

In contrast to the defiant tone struck by Indonesian President Suharto in his dealings with the IMF, Mr Chuan ran through a list of errors made by the Bangkok government.

'In the good times, we forgot many important truths and neglected many important tasks . . . as long as we continued to succeed this complacency could go unpunished,' he said.