Thailand: Bank of Thailand plots new support measures amid virus surge

  • The Bank of Thailand said on 19 Apr 21 the current Covid-19 outbreak was highly uncertain and it was ready to introduce necessary assistance measures in addition to recent support schemes.
  • The tourism-reliant nation is grappling with a third coronavirus wave that includes a highly contagious variant, which have caused over 14,700 infections in less than three weeks, dealing a blow to its already slow economic recovery.
  • The Bank of Thailand is closely monitoring the situation and discussing with relevant agencies help for retail debtors through support measures and debt mediation, Deputy Governor Ronadol Numnonda said in a statement.
  • In Mar 21, the government approved financial measures worth THB350bn to help business cope with the outbreak impact.
  • Monetary policy will ensure that financial conditions are no obstacles to the economic recovery, BoT Governor Sethaput Suthiwartnarueput was quoted by local newspaper Prachachat as saying.
  • Overall liquidity remains sufficient but there is a problem with liquidity distribution to needed areas, he said.
  • The BoT has kept its policy rate at a record low of 0.50% since mid-2020 and will next review policy on 5 May 21.
  • Earlier in Apr 21, the central bank said Southeast Asia’s second-largest economy could grow less than its forecast of 3.0% in 2021 after the new outbreak.

External Link :