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Poul Høst-Madsen

This paper discusses the project financed by the World Bank for controlling the flow of the Chao Phya River in Thailand. Chao Phya is the lifestream of the Thai people. However, this river, and its principal tributaries are, in their natural state, capricious rivers. In the early 1950s, the World Bank began assisting the Thai government in a series of projects designed to break this ancient tyranny of the rivers’ violent changes. The paper describes how the river is being tamed for irrigation and navigation, and how they are providing electric power and other benefits.

Herbert Stain, Paul Krugman, Georg Koopmann, Klaus Matthies, and Beate Reszat

For the latest thinking about the international financial system, monetary policy, economic development, poverty reduction, and other critical issues, subscribe to Finance & Development (F&D). This lively quarterly magazine brings you in-depth analyses of these and other subjects by the IMF’s own staff as well as by prominent international experts. Articles are written for lay readers who want to enrich their understanding of the workings of the global economy and the policies and activities of the IMF.