ovt intent on solving informal debt problem

BANGKOK, 4 April 2010 (NNT) – Prime Minister Abhisit Vejjajiva has instructed the Ministry of Finance to move forward with the second phase of the informal debt refinancing scheme in order to solve economic and social problems of low income earners and farmers.

Speaking in his weekly television program “Confidence in Thailand with Prime Minister Abhisit”, the Prime Minister said the first phase of the informal debt refinancing scheme met with satisfaction as a large portion of informal debts had been transferred to the banking system.

Prime Minister Abhisit added that the Ministry of Finance hence will continue with the second phase of the scheme as a lot of people still have no access to the debt restructuring service.

The Prime Minister also announced that the cabinet on 7 April 2010 will consider the debt restructuring scheme for more than 500,000 farmers who are members of the Farmers’ Rehabilitation and Development Fund and the Bank for Agriculture and Agricultural Cooperatives.

Prime Minister Abhisit continued to narrate that the Thai economy in the past two months was improving well. However, he admitted that the mass rally could affect the economy in March, but the government would closely monitor the situation.