Banking
Thailand’s debt ratio will not exceed 60%
Public Debt Management Office director-general Jakkrit Parapuntakul said in the next six years, Thailand’s public debt ratio to its gross domestic product (GDP) will be no more than 60 per cent as earlier concerns were expressed by the Bank of Thailand (BoT).
Public Debt Management Office director-general Jakkrit Parapuntakul said in the next six years, Thailand’s public debt ratio to its gross domestic product (GDP) will be no more than 60 per cent as earlier concerns were expressed by the Bank of Thailand (BoT).
He said the estimate by his office came from the fact that the government calculated the proportion of public debt to the country’s GDP within 5 years.
According to the calculation, the loans portion of the Bt350 billion budget for the government’s water management project will rise to 45 per cent of the public debt.
Such amount when included with other loans for basic infrastructure construction in the Bt2.27 trillion budget will increase the country’s public debt to 55 per cent of GDP.
The public debt ceiling will increase once there is more investment.
Regarding the progress on loans for the government’s rice pledging scheme during the 2012/2013 production season, another Bt17 billion is still needed for the assurance budget of around almost Bt270 billion.
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.
Southeast Asia faces an infrastructure investment shortfall of more than $100 billion a year, which may have worsened amid the COVID-19 pandemic.
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.
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.
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.
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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