Thailand’s cabinet has approved a range of debt relief measures aimed at reducing the nation’s alarmingly high levels of household debt, the country’s Prime Minister Paetongtarn Shinawatra announced yesterday.
Speaking to reporters, the Thai leader said that the measures, which will include interest suspensions and reduced principal payments, aim to support retail borrowers and smaller businesses who are struggling with debt, Reuters reported.
The measures are part of the Pheu Thai-led government’s attempt to revive Thailand’s economy, which has struggled to emerge from the recession of the COVID-19 pandemic. One key objective is to reduce the country’s 16.3 trillion baht ($482 billion) in household debt, which, with a…
