Thailand may sue ex-central bank chief

THAILAND - Thailand's public prosecutor has recommended suing Rerngchai Marakanond, former central bank governor, for $1.6m ( £1.1m) for exhausting the country's foreign currency reserves in a failed defence of the baht, the trigger for the 1997 Asian financial crisis.

Prosecutors said the finance ministry's Financial Institutions Development Fund had submitted a civil lawsuit against Mr Rerngchai, after a three-year investigation into the bank's unsuccessful defence of the fixed exchange rate