Bank of Thailand (BoT) Governor Tarisa Watanagase on Monday said the ongoing political rallies by the Red Shirt protesters are more persistent and violent than expected, putting Thailand’s sovereign position at risk of being downgraded.
The downgrading would fuel costs of offshore borrowing and shake investor confidence in Thailand, she said.
“We must take into account all factors in assessing the impacts on the economy by assuming how the rallies will end,” she said, “and whether what happens now differs from tghe assumptions.
“How the economy will be affected depends on confidence. Investor confidence is most worrying now,” Mrs Tarisa said.
The BoT chief said the political crisis had begun to impact the Thai economy, but how adversely it will affect depends on whether the rallies end sooner or later.
The Importance of E-Wallets for Online Gaming Sites
With e-wallets and cryptocurrency being the most relevant options, banks have been put on the side burner, especially when e-wallets and cryptocurrency allow for fast electronic transfer, that is done instantly.
Thai Government to issue Bt50 bln ( $1.57 bln)Savings Bonds to fund COVID-19 Relief Measures
The special savings bonds are available via the “Sasom Bond Mung Kung” e-wallet, abbreviated to “Sor Bor Mor” in Thai on Krungthai Bank’s Pao Tang mobile app, and through four dealer banks. The minimum purchase of these bonds is 1,000 baht, without no maximum. Interest is paid twice a year.
BANGKOK (NNT) – Thailand’s Public Debt Management Office (PDMO) plans to issue “Ying Aom Ying Dai” (the more you save, the more you earn) government savings bonds, worth 50 billion baht, next month, aiming to use the funds to finance state projects to ease the impacts of the pandemic.(more…)
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