Kittiratt calls meeting to consider 3-year debt moratorium/cutting loan interest for good borrowers


BANGKOK, 11 March 2012  – Deputy Prime Minister and Finance Minister Kittiratt Na Ranong on Sunday held talk with chief executives of six state Specialized Financial Institutions (SFIs) to finalize the course of debt suspension scheme for good debtors. 

High on the agenda is the proposed moratorium for responsible debtors with debts not exceeding 500,000 baht.

Consideration is likely to concentrate on two options for debtors. First, they may stop paying debt for as long as 3 years but are subjected to normal interest payment and deprived of chances for additional borrowings. Another option is for debtors to gain cheaper interest rates which are 2% lower than original rates, for a period of 3 years and can still ask for more loans.

The six Specialized Financial Institutions (SFIs) consist of the Government Savings Bank, the Government Housing Bank, the Bank for Agriculture and Agricultural Cooperatives, the Export-Import Bank of Thailand, the Islamic Bank of Thailand, and the Small and Medium Enterprise Development Bank of Thailand.