Thailand govt cuts informal debts by 670 million baht in two months

The Government of Thailand has slashed the nation’s informal debts by 670 million baht (US$18.69 million) in a span of two months, successfully resolving 102,000 out of the 140,000 reported cases. This significant reduction is part of an initiative to alleviate the household debt burden.

Prime Minister Srettha Thavisin, who also holds the position of Finance Minister, attributed this progress to the concerted efforts of several agencies. These include the interior, finance, justice, education, and agriculture and cooperatives ministries, and various government-associated financial institutions.

The government, since the start of the initiative on November 28 of the previous year, received over 140,000 pleas for assistance. Of these, 102,000 have been successfully addressed, thereby decreasing the total debt under the government’s purview by 670…