PM Prayut orders military to tackle informal debts

[webfact]

PM orders military to tackle informal debts

By Thai PBS

 

 

Prime Minister Prayut Chan-o-cha has ordered military officers nation-wide to work with provincial authorities to help solve problems of informal debts, especially among farmers, government spokesman Lt Gen Sansern Kaewkamnerd said today.

 

The spokesman said the order was prompted by the prime minister’s concerns over indebtedness of people, especially those saddled with debts resulting from informal loans borrowed from private money-lenders. Loan sharks normally charge much higher interests than the legal limits.

 

People with the informal debt problem are advised to give details about their debts to the Bank for Agriculture and Agricultural Cooperatives (BAAC) and the Government Savings Bank (GSB).

 

Full story: http://englishnews.thaipbs.or.th/pm-orders-military-tackle-informal-debts/

 

-- © Copyright Thai PBS 2018-07-23

[PatOngo]

Who better than military to sort out the economy!  ? Maybe they could find some accountants to run the military!

Edited July 23, 2018 by PatOngo

[Oziex1]

Could read, Military to take over loan shark business.

[Chris Lawrence]

Military trained in the art of financial mismanagement? Why? 

 

These loan sharks have dominate or powerful positions in the lending arena. Some of the military may have vested interest in the process. They are therefore not a party I would support to help.

 

Better off with one of the top 10 Thai accounting firms to step in and go thru the books. One of the problems with a centralised government; they still want control. Such control may be the nemesis of the people they say they want to protect.

[observer90210]

if the banks started to grant  "micro credits" as done in many socially oriented institutions around the world .... it would put the loan sharks and other cheats out of business....the point is, are those loan sharks protected by the authorities above ?

[sammieuk1]

Do the mysterious tally men already have a uniform might also be a question.