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Major agency not to raise Thailand’s credit rating

Aishwarya Gupta

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Moody’s, a major credit rating agency, proclaims not to raise Thailand’s credit rating due to domestic political turmoil. The issue was rased, at a bilateral discussion between the agency with the Public Debt Management Office of Thailand (PDMO) at the 43rd Annual Meeting of the Board of Governors, Asian Development Bank.

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The 43rd Annual Meeting of the Board of Governors was held in Tashkent, Uzbekistan on 1 May 2010. The PDMO Director Chakkrit Parapantakul held a bilateral meeting with the Moody’s Senior Vice President Tom Byrne. The PDMO Director had clarified Thailand’s economic situation, pointing out that the figure at present was favorable with positive trend of exports. The figure of public debt to GDP is lower than expectation, while the foreign exchange reserve remains at a high level.

via Moody´s not to raise Thailand´s credit level : National News Bureau of Thailand.

Banking

Singapore’s PayNow and Thailand’s PromptPay Launch Cross-border Payment System

Olivier Languepin and Abhishek Prakash

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In a global first, Singapore and Thailand have linked their real-time payment systems, PayNow and PromptPay allowing international fund transfers between the two countries within minutes.

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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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