Intellasia East Asia News – Bank of Thailand recommends long term debt solutions as lockdown will last longer than expected

The Bank of Thailand (BoT) has pointed out that the prolonged nature and long-lasting effects of the COVID-19 pandemic mean commercial banks and clients should focus on long-term debt restructuring.

BoT deputy governor RonadolNumnonda said short-term debt suspensions or restructurings are not proportionate to the suffering of bank clients as a result of the pandemic and lockdown restrictions. The pandemic is expected to be a factor in the country’s economy for a long time and it will take time for bank clients’ businesses to recover fully.

He said this means both banks and their clients should focus on long-term debt solutions, adding that the central bank is in talks to provide incentives to banks, to encourage them to offer long-term debt restructuring packages to their clients.

Ronadol said banks can offer long-term debt restructuring without waiting for the BoT to amend related rules. The central bank is not going to determine the minimum length of long-term debt restructuring, as this depends on clients’ particular circumstances, and there is no “one size fits all” solution. (NNT)

Bank of Thailand recommends long term debt solutions as lockdown will last longer than expected


Category: Thailand

Print This Post

Source link


Crypto Crashed. Wall Street Won.

How Wall Street’s biggest banks sidestepped the crypto meltdownAs...

Tour de France 2022: stage four – live!

Key events:Show key events only64km to go: An email...

Lego Star Wars Luke Skywalker’s Landspeeder review

Essential info:Price: $199.99 / £174.99Model number: 75341Number of pieces:...

Jakarta Masuk ke PPKM Level 2 Lagi, Anies Baswedan Koordinasi dengan Pemerintah Pusat –

Laporan Wartawan, Fandi Permana TRIBUNNEWS.COM, JAKARTA - Pemerintah memutuskan untuk memperpanjang masa Pemberlakuan Pembatasan Kegiatan Masyarakat atau PPKM Jawa Bali. Sebanyak 14 daerah, termasuk DKI Jakarta,...

Intellasia East Asia News – Increase in inflation still within reasonable limits: economist

<!-- --> The increase in the inflation rate in June 2022 was still within reasonable limits, as it was inevitable, along with the...

Intellasia East Asia News – Wave for the green man: LTA trials ‘touchless buttons’ at 4 crossings starting this month

<!-- --> Instead of pushing a button to activate the green man, pedestrians at four signalised crossings will have to wave. The...