Finance Ministry to Unveil Measures for Resolving Debt Issues in Thailand
The Finance Ministry, in collaboration with the Bank of Thailand (BOT) and various financial institutions, is set to announce a series of measures aimed at addressing pressing debt issues affecting residents. The announcement will take place on December 11 during a press conference at the Bank of Thailand in Bangkok.
According to Lavaron Sangsnit, the Permanent Secretary of the Finance Ministry, the upcoming measures will primarily target debts associated with housing, auto loans, and loans related to small and medium enterprises (SMEs). The press conference will be led by Finance Minister Pichai Chunhavajira, BOT governor Sethaput Suthiwartnarueput, and various senior executives from financial institutions.
New Debt Restructuring Programme
As part of the forthcoming initiatives, Lavaron noted the introduction of a new debt restructuring programme. This programme will cater to both recent borrowers and those who entered government debt programmes in the past three years. Specifically, applicants will have the option to choose payment plans that enable them to clear their principal debt quickly, including the option to suspend interest payments.
These measures will help fix the rising non-performing loans (NPLs) in the housing and auto markets, which have negatively impacted automakers, property developers, and supply chain providers in related industries,
said Lavaron.
Conclusion
The planned announcement is expected to bring much-needed relief to those burdened by debt and is a critical step in strengthening the economic stability of Thailand’s households and SMEs.
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