IN A move to help businesses cope with economic downturn and the ongoing uncertainty in the Middle East the Bank of Thailand (BOT) today (July 17) extended the “Asset and Debt Moratorium” programme launched for five years in 2021 when Covid-19 pandemic triggered liquidity problems till the end of 2027, PPTVHD36 said.
Central Bank Governor Vitai Ratanakorn said there are currently over 400 businesses in the programme whose right to repurchase asset will gradually start expiring from this month.
In the past, BOT and the government have continuously supported financial institutions in using existing measures to help businesses access funding for repurchasing assets, such as the “Increase Assets” loan programme. Other liquidity injection programmes include “SMEs Secure+” and the Government Savings Bank’s low-interest loan (soft loan) scheme.
However, some businesses are still affected by both economic downturn and the conflict in the Middle East thus while they intend to repurchase assets, they are still in the recovery phase and require more time to secure funding.
Therefore, BOT has extended the deadline for exercising the right to repurchase assets under this programme to no later than December 31, 2027, to give businesses with potential additional time to secure funding and continue their operations.
CAPTIONS:
Top and Front Page: Representative image of debt management.
Insert: Bank of Thailand Governor Vitai Ratanakorn. Both photos: PPTVHD36
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