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Borrowing under the Thai Khem Kaeng (Strong Thailand) scheme won’t fuel public debt

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Deputy Prime Minister Trairong Suwankiri on Friday indicated the government’s planned borrowing of significant funds to support  implementation of projects under the Thai Khem Kaeng (Strong Thailand) scheme would not fuel the country’s public debts as some academics criticized.

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He said the amount the government planned to borrow would not be as high as Bt800 billion, partly because it earned more tax revenue than forecast.

Mr Trairong said he had monitored various ministries’ plans to disburse the Thai Khem Keng budget and found the amount is not as high as indicated earlier.

via Borrowing under Thai Khem Kaeng won’t fuel public debt, says Deputy PM.

Asean

12 Things to Know about the ASEAN Catalytic Green Finance Facility (ACGF)

The ACGF is an ASEAN Infrastructure Fund initiative managed by ADB’s Southeast Asia Department Innovation Hub. It helps Southeast Asian governments prepare and finance infrastructure projects promoting environmental sustainability and contributing to climate change goals.

Asian Development Bank

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Southeast Asia faces an infrastructure investment shortfall of more than $100 billion a year, which may have worsened amid the COVID-19 pandemic.

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Banking

Thai cabinet approves 350 billion baht Aid for COVID-hit Businesses

Thailand unveiled new measures to help small and medium COVID-hit businesses in the tourism industry hit by a liquidity crunch.

Olivier Languepin

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The Thai cabinet has approved assistance worth 350 billion baht($11 Billion) to help businesses affected by COVID-19 with soft loans and asset warehousing.

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Banking

APAC Banks to Face Portfolio Valuation Losses As Yields Rise

The latest data suggest that Fitch-rated banks in Hong Kong, India, Indonesia, Malaysia and Taiwan have the largest AFS securities portfolios, and display particular sensitivity to changes in yields.

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Fitch Ratings-Hong Kong/Singapore-21 March 2021: A rise in yields for long-dated sovereign bonds will result in near-term losses for Asia-Pacific (APAC) banks as they recognise valuation changes on their available-for-sale (AFS) bond portfolios, but the capital impact should be manageable for most rated banks, says Fitch Ratings.

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