Why Thai central bank and others oppose ‘digital wallet’ scheme

In the latest signs of a rift between the central bank and Srettha Thavisin’s new administration, BOT officials have likened the 560-billion-baht welfare scheme to offering poisoned honey to the people. And implementing the distribution of 10,000 baht in digital money to all Thais over the age of 16 will not be as straightforward as it seems, they add.

Widespread opposition was ignited when the digital wallet scheme was included as one of five urgent policies to be implemented after the Pheu Thai-led coalition government came to power. The government is hoping the digital handout will stimulate Thailand’s economic recovery.

Starting from February 1 next year, 56 million Thai citizens aged 16 and above will receive 10,000 baht each through digital wallets.

Among experts who object to the scheme is former finance minister Korn Chatikavanij, who says the digital handout lacks…