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.
Thai Credit Guarantee Corporation (TCG) Will Launch Bad Debt Guarantee Program for SMEs
The program will also cover SME loans that have turned into non-performing loans (NPLs), defined as loans overdue by more than 90 days, although these NPLs must not exceed two years of overdue payment.
BANGKOK (NNT) – State-owned Thai Credit Guarantee Corporation (TCG) is preparing to launch a 20-billion-baht bad debt guarantee program to assist struggling small and medium-sized enterprises (SMEs) saddled with bad debts.
Can the Subscription Economy Save Financial Services?
Going back to the pre-Covid “normal” is not an option for financial services. Fortunately, the rise of the subscription economy points towards frontiers of untapped growth for the sector.
As the world waits for mass vaccination to revive economic activity, general malaise has overtaken the financial services industry (FSI). And things will probably worsen before they get better: US banks are expected to suffer US$318 billion in net loan losses by the end of 2022, according to Deloitte.
Asia Pacific Banks shrug off commercial property risks for now
APAC commercial property prices were down around 3% on average in 2020, after a 1% rise in 2019. But the coronavirus-induced decline has been modest compared to past downturns, suggesting that the impact on banks’ commercial real estate loans will generally be much smaller this time.
Foreigners’ Participation in Thai Listed Companies explained
Special vehicles have been created to facilitate foreign investors so that they are able to invest in Thai securities flexibly...
Gambling in Asia: Thailand and more
There is a large demand for gambling throughout Asia, which is detailed below in a comparison between various countries, such...
EEC Expects 300-billion-baht Investment This Year
BANGKOK (NNT) – Thailand expects investment to triple to at least 300 billion baht in the Eastern Economic Corridor (EEC)...
Thailand’s Stock Exchange (SET) market report for January 2021
BANGKOK – The Stock Exchange of Thailand (SET) Index rose inJanuary, though a new wave of COVID-19 pandemic in domestic...
Vietnam’s Binh Dinh Industrial Zone: Opportunities for Foreign Investors
The project will be based in Qui Nhon city, with a total capital of more than US$143 million (3,333 trillion...
Finance Ministry Seeks More Fund for Co-payment Scheme
Fiscal Policy Office (FPO) Director-General Kulaya Tantitemit said the number of registrants exceeded the target of 31 million and could...
Subscribe via Email
Economics6 days ago
1.7 million Thais without smartphones register for "Rao Chana" benefits
National1 week ago
Thailand to further ease COVID-19 restrictions
Business1 week ago
THAI airways to sell training center building to raise more funding
Ecommerce1 week ago
Will Covid-19 unleash a new generation of digital nomads?