widespread! The cabinet will not continue the “debt suspension” measure, the business sector fears that there will be insufficient funds to pay The risk of heavy debt The bank’s side insists that the suspension of debt does not affect customers. The government is expected to prepare a new package to carry
On March 4, a news source from the Thai Bankers’ Association revealed that after the business sector had requested the government to By sending a letter through the Ministry of Finance and the Bank of Thailand (BOT) requesting to review measures and expand debt suspension measures That will be due in April this year. go for at least 1 year
Because most entrepreneurs who are affected by the COVID period As a result, income and financial liquidity have not recovered as expected. had to encounter problems and could not find a lump sum to pay off the debt and may become a bad customer of the bank which affects access to new capital sources in the future May cause some parts to have to go out of business. Especially the SMEs and small groups.
“Relevant agencies have been discussing all the time. And there are also different sounds. some state policymakers Disagree with the debt moratorium measure instead, focusing on and adapting to various rehabilitation measures by asking the BOT to collect and send it to the Ministry of Finance to present to the Cabinet meeting (Cabinet), there is a trend that it will be presented as soon as possible to the Cabinet meeting. This March 7th, if not in time, will offer it in time for March. to be driven immediately If the parliament is dissolved and it is in the election period,” the source said.
Ms. Kevalin Wangpichayasuk, Deputy Managing Director of Kasikorn Research Center Co., Ltd., mentioned about the case of loan measures for rehabilitation and debt suspension (Ware Housing) will expire on April 9, 2023 and the Bank of Thailand (BOT Thor) with the Ministry of Finance In the process of considering whether to extend the measure for another 1 year or not, which is in accordance with the law that can be extended for another 1 year, is a matter for the Ministry of Finance to consider and bring the matter to the Cabinet (Cabinet) to reconsider whether will continue or modify it
Ms. Kevalin said that regarding the age of the debt suspension measure, if the case is renewed, it will help more debtors outside the measure to participate. Including debtors under the measure still receive benefits according to the conditions specified by the measure. At the same time, if considered without renewal and there is a group of debtors who are concerned about repayment of debts that must bring a lump sum to be paid immediately
look at financial institutions or banks is a creditor who joins the measure by the debtor’s repayment conditions There may be a conditional negotiation between the creditor and the debtor. In order not to be affected by debt repayment, such as entering into a long-term debt restructuring agreement according to the debt limit consideration of payment according to the ability of the debtor that must not affect both the creditor and the debtor or affect the debtor the least, etc.
In addition, financial institutions must have measures of each bank in accordance with the debtor’s situation. and must reduce the risk of the banking business To prevent the occurrence of bad debt (NPL) until affecting the cost of business.
Ms. Kevalin said, however, that if the said measure expires It is possible that the BOT and the Ministry of Finance other measures will be issued come to support Because the old measures may not be able to help the debtor. according to the changing economic situation and may increase measures to meet more debtors’ needs
However, it is viewed that the consideration of measures will be renewed or new measures will be added. probably not related to politics Because it is the timing when the end of the measure coincides with the domestic elections. which considers various measures It depends largely on the financial functioning agency. Including having to negotiate with financial institutions to have a mutual agreement. In addition, the economic situation must be taken into account in accordance with the debtor’s ability.
“Government may play a role in some matters. If the final measure in the old government to be the final work, probably not Because solving debt problems may not be solved all at once and takes time. In addition, consideration must be made together by many parties before the measures are issued. which must be in line with the economy as well,” said Ms. Kevalin.
Ms. Kewalin further said that the BOT has now issued measures for rehabilitation loans. Adjustment Loans To entrepreneurs who need credit after their business has gone through a crisis Or want to adjust the business to support the economy with a better direction, which the BOT still attaches importance to all parties and also takes care of vulnerable group debtors or groups to join the ongoing measures to receive ongoing assistance
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