Thai Bankers’ Association introduces two-month debt moratorium for customers in dark-red zone areas

[snoop1130]

 

Commercial banks in Thailand have introduced a two-month debt moratorium for all customers in 29 provinces that are currently in a partial lockdown state, the Thai Bankers’ Association President announced yesterday, August 2nd.

 

Association Chairman Payong Srivanich addressed that in order to reduce the Covid-19 spread, all banks need to be closed or rescheduled under the government order, especially in 29 provinces from the maximum strict and controlled areas.

 

The two-month debt moratorium, therefore, is designed to help customers and entrepreneurs who are affected and suffering from the partial lockdown. The urgent assistance will cover 29 provinces in the dark-red zone areas.

 

Full Story: https://thepattayanews.com/2021/08/03/thai-bankers-association-introduces-two-month-debt-moratorium-for-customers-in-dark-red-zone-areas/

 

-- © Copyright The Pattaya News 2021-08-03

 

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[pegman]

This should be the case during the entire span of COVID restrictions. The Thai gov can back stop the lenders with it's huge foreign exchange reserves.

[gargamon]

Of course they will still continue to accrue interest on the money owed them while they stop requiring payments.