The Bank of Thailand will not extend a broad-based debt moratorium but will introduce targeted measures to help debtors affected by the coronavirus pandemic, a BoT assistant governor said on Friday.
Southeast Asia’s second-largest economy posted its deepest contraction in over two decades in the second quarter and the pandemic has battered tourism and domestic activity.
The central bank will monitor the situation closely and did not expect rapid and large defaults after the six-month debt holiday ended on Thursday, assistant governor Roong Mallikamas told a briefing.
“The central bank will introduce debt measures, but not for everyone, to help financial institutions assist each debtor,” she said.
Small-and medium sized businesses (SMEs) with combined debt of about 1.35 trillion baht (US$43 billion) had been under the debt…
