The scale of Thailand’s informal debt has captured the government’s attention, prompting it to declare the matter a national agenda issue and roll out a nationwide programme for debtors to register for help.
In the first week of registration for the scheme, more than 75,000 debtors enrolled — with their accumulated debt exceeding 3.8 billion baht owed to a diverse group of 47,000 creditors.
The government’s estimate of informal debt stands at some 50 billion baht but the problem may be bigger.
Labelling unregulated lending as “modern-day slavery”, Prime Minister Srettha Thavisin…
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