Digital wallet and debt moratoria schemes should not be for all : BoT governor

Bank of Thailand Governor Sethaput Suthiwartnarueput has suggested that the “digital wallet” scheme should target certain people, instead of all Thais who are 16 and older, while debt a moratorium for all indebted farmers should also be selective.

He explained that not everyone who is eligible for the 10,000 baht under the digital wallet scheme needs the money and a lot of money will be saved if it is targeted towards people who are in need of it.

Regarding a debt moratorium for farmers, Sethaput said that there are many who are capable of servicing their debts and the best way to help these farmers is to help them settle their debts or to incentivise them so they can carry on servicing them.

He admitted that there are also many farmers who are heavily indebted and a debt moratorium, which is just temporary relief, will not help them settle their chronic indebtedness.