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Published on July 18, 2007

He said the currency was a national agenda that required the entire government to take action.

Exporters would agree with his remarks.

Agreeing even more might be Export-Import Bank of Thailand chairman Narongchai Akrasanee.

Narongchai has never been known as a man with a soft heart, but on Monday he showed his soft side.

He expressed sympathy for BOT Governor Tarisa Watanagase, who has been under attack for the baht's appreciation against the US dollar. The fear is the strong baht will plunge many Thai companies into huge losses.

The first female central-bank governor has been under attack since the BOT issued its capital-reserve requirement last December. Although the rule has been relaxed, malicious comments keep emerging from time to time.

In his speech on Monday, Narongchai said stemming the baht's rise needed the cooperation from all parties. The government should reduce its foreign reserves, while state enterprises and private companies should be encouraged to convert their foreign-currency loans to baht loans and repay the foreign loans as soon as possible.

"The strong baht has become a national problem," he said. "It's not the problem of just the central bank."

Above all, he said: "Tarisa is just a small and beautiful woman."

Hopefully, the hearts of others are as soft as Narongchai's. With widespread moral support, Tarisa could become stronger in defending the baht.

achara_d@nationgroup.com