Prime Minister Thavisin aims to resolve debt problems in 4 years. He divides debtors into 4 groups, has helped 140,000 informal debtors, and plans to secure low-interest funding for defaulting debtors.
Government’s Determination to Tackle Debt Problems
Prime Minister Srettha Thavisin has reaffirmed the government’s commitment to addressing both formal and informal debt issues within the span of his administration’s 4-year term. The progress made in the past two months reflects the sincere intention of the administration to assist people in breaking free from the burden of debt.
Groups of Debtors and Progress Made
Debtors are categorized into four main groups, including those affected by the pandemic, individuals with excessive debt obligations, farmers with irregular incomes, and those with non-performing loans. Prime Minister Thavisin highlighted the successful registration of 140,000 informal debtors for government assistance, leading to mediation and resolution in over 57% of cases. The government’s next steps include securing low-interest funding for defaulting debtors and ensuring they do not accumulate new debts.
