Thailand to refuse 'breath of oxygen'

Only a handful of tsunami-hit countries have accepted an offer of a “breath of oxygen” from rich nations to suspend billions of pounds in debt repayments, it was revealed today.

Only a handful of tsunami-hit countries have accepted an offer of a “breath of oxygen” from rich nations to suspend billions of euro in debt repayments, it was revealed today.

Thailand will reject the proposal in an effort to retain its “standing in the international financial markets", said French Finance Minister Herve Gaymard.