Banking
Thailand issues 50-year government bonds
Thailand’s Finance Ministry has for the first time issued 50-year government bonds, the ministry’s longest duration maturity ever, with an interest rate of 4.85 per cent, according to Finance Minister Korn Chatikavanij.
Thailand’s Finance Ministry has for the first time issued 50-year government bonds, the ministry’s longest duration maturity ever, with an interest rate of 4.85 per cent, according to Finance Minister Korn Chatikavanij.
Mr Korn said the auctions reached Bt3.5 billion in total, while investors bid for the bonds at a volume as high as Bt6.3 billion, or about 1.8 times more than the budget the ministry is seeking.
Two groups of investors interested in the bidding were institutional buyers, counting about 37 per cent of the amount proposed in the bidding. The other group were life insurance companies, accounting for around 63 per cent.
The finance minister said the event was successful. This bond issue has made Thailand the world’s fourth country to produce 50-year government bonds, following the United Kingdom, France and China respectively.
According to Mr Korn, the ministry is planning two more auctions of Bt3-4 billion each in the April-June and the July-September quarters. (MCOT online news)
via Finance Ministry issues Thailand’s 1st 50-year government bonds.
Economics
Thailand’s economic growth expected to return to 2019 levels in mid-2023
Although the economy would recover next year, the recovery is still substantially below potential level resulting in a large output loss and could affect Thailand’s potential economic growth in the future with the economy expected to return to 2019 levels in mid-2023.
The Siam Commercial Bank (SCB), one of Thailand’s largest commercial banks, said in its latest economic outlook report that the country’s economy may wait until the second semester of 2023 to return to 2019 growth levels.
(more…)Banking
S&P maintains Thailand’s credit rating at BBB+ with stable outlook
Standard and Poor’s (S&P) maintained Thailand’s credit rating at BBB+ . The global rating firm expects the country’s gross domestic product (GDP) to grow at 1.1% this year, with a more optimistic growth at 3.6% per year from 2022 to 2024.
Standard and Poor’s (S&P) maintained Thailand’s credit rating at BBB+ . The global rating firm expects the country’s gross domestic product (GDP) to grow at 1.1% this year, with a more optimistic growth at 3.6% per year from 2022 to 2024.
(more…)
Can border reopening revive tourism in South-East Asia?
In Thailand, where pre-pandemic tourism accounted for 11-12% of GDP, the country lost an estimated $50bn last year as Covid-19...
Thailand dropped from UK’s tough covid-19 travel ‘red list’
Earlier, Thailand was listed among countries with high infection levels that were put on a ‘red list’, requiring arrivals to...
The ASEAN-Russia Trade and Investment Cooperation Work Program
ASEAN and Russia recently agreed to enhance and widen economic cooperation at the 10th ASEAN Economic Ministers (AEM)-Russia Consultations held...
Flexible Workspace Startup Worklounge Debuts with 20+ Luxury Member Lounges in Thailand
Worklounge launches a premium membership granting remote professionals and executives access to exclusive hotel lounges across Thailand. Their platform is...
5 insights to guide ASEAN’s digital generation in a post-pandemic world
We surveyed 86,000 people from six ASEAN countries about their views for a post-pandemic world. The ASEAN Digital Generation Report...