World

Thai central bank to help COVID-19-hit firms with debt restructuring

The Bank of Thailand (BoT) will focus on assisting businesses, especially those severely affected by COVID-19 pandemic, to restructure their debts, the bank’s Governor Veerathai Santiprabhob said on August 21.

Hanoi (VNA) – The Bank of Thailand (BoT) willfocus on assisting businesses, especially those severely affected by COVID-19pandemic, to restructure their debts, the bank’s Governor Veerathai Santiprabhob said on August 21.

Veerathai saidthat readjusting fiscal policy can help the Thai economy recover from theimpact of COVID-19.

However, Veerathai said the central bank cannot lower its 0.5percent benchmark interest rate, as it is already at a record low.

The BoT's debt restructuring scheme will allow debtors tosuspend principal and interest payment for up to six months, said the governor.

Normally, debt restructuring is available together with loanofferings, said Veerathai.

He said that the additional loan guarantee scheme willsupport small and medium-sized enterprises that have suffered from the pandemic.

The governor said that Thai commercial banks have withdrawnmore than 75 billion THB (2.37 billion U.S. dollars) of the central bank'ssoft loans since its implementation, with total loans amounting to more than500 billion THB (15.8 billion U.S. dollars).

Under the conditions of the soft loan scheme, banks cannotoffer credit lines to all customers, explained Veerathai./.
VNA
#Bank of Thailand (BoT)#COVID-19 pandemic#Veerathai Santiprabhob#loan guarantee scheme#Thailand#Vietnam#Vietnam news#Vietnam News Agency
Follow VietnamPlus

Related News

Thailand to allow long-stay tourists in Phuket

Thailand to allow long-stay tourists in Phuket

Thailand will allow foreign tourists to visit for longer stays in Phuket tourist island from October, a senior official of the country said on August 21, as the government tries to revive a key economic sector that has been devasted by the coronavirus pandemic.

See more

At Pulau Seraya power station (Photo: Straitimes)

Singapore begins construction on hydrogen-fueled power plant

Singapore on October 23 began the construction of an 800 million USD power plant that has the capability to use hydrogen to generate electricity, as part of a push to utilise the fuel to reach Singapore’s net-zero carbon emissions target by 2050.

Delegates at the event (Photo: VNA)

125th anniversary of Permanent Court of Arbitration celebrated

The Permanent Mission of Vietnam to the United Nations and missions of the Philippines, Australia, Egypt, Guatemala, Hungary, Thailand, France, Eritrea and Austria, organised a ceremony on October 22 to celebrate the 125th anniversary of the Permanent Court of Arbitration (PCA), as part of the International Law Week at the UN General Assembly's Legal Committee (Sixth Committee).

CEO of the Malaysia Digital Economy Corporation Anuar Fariz Fadzil (Photo: focusmalaysia.my)

Malaysia continues placing emphasis on digitalisation

The Budget 2025 provides significant support to further accelerate Malaysia’s digitalisation, encourage adoption of artificial intelligence (AI) and drive inclusive growth, further positioning Malaysia as a leading digital hub within the ASEAN region, according to CEO of the Malaysia Digital Economy Corporation (MDEC) Anuar Fariz Fadzil.

Malaysia's economic reforms boost investment inflow (Photo: thestar.com.my)

Malaysia's economic reforms boost investment inflow

Malaysia has attracted substantial foreign investments, reaching 22.2 billion MYR (5.16 billion USD) in the third quarter of 2024, the highest level for the same period since 2012, according to UOB's Global Markets and Economics report.

Ambassador Dang Hoang Giang, Permanent Representative of Vietnam to the UN speaks at the debate (Photo: VNA)

Maintaining peace, stability a must for progress on human rights: Ambassador

Progress in human rights can only be achieved by maintaining peace and stability, respecting the rule of law at both the international and national levels, and ensuring respect for the principles of national sovereignty and non-interference in internal affairs, said Ambassador Dang Hoang Giang, Permanent Representative of Vietnam to the UN.

A visitor browses travel promotions at a travel fair in Nonthaburi province. (Photo: Bangkok Post)

Thailand plans enhanced support for domestic tourism

Thailand’s Ministry of Tourism and Sports is aiming to increase subsidy to local tourists in the upcoming stimulus scheme to 50% and would like to change the criteria for online travel agents, mandating them to register in Thailand to avoid losing income to foreign companies.

Oil field offshore Indonesia. (Photo: thejakartapost.com)

Indonesia begins major oil, gas exploration in Sulawesi

Indonesia's state-owned oil company Pertamina, along with foreign partners Sinopec from China and Kuwait’s Kufpec, has signed a contract to explore the Melati oil and gas block, located off the coast of Sulawesi. The block is estimated to contain trillions of cubic feet of gas reserves.