Thailand’s Export-Import Bank Set to Extend Two-month Debt Relief Period

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BANGKOK (NNT) - The Export-Import Bank of Thailand (EXIM Thailand) is to extend the two-month debt relief period, which began last month, until the end of the year, to ease the impacts of the COVID-19 pandemic.

 

EXIM Thailand president Rak Vorrakitpokatorn said, if customers still have financial problems after the end of the two-month debt relief period, the bank is ready to extend the principal and interest suspension period until the end of the year.

 

He said the bank has already provided liquidity of around 2.2 billion baht to four out of eight local airlines, adding that the economy has yet to recover as a consequence of the new wave of the pandemic.

 

Mr. Rak said, with the pandemic intensifying across the world, several countries have started to adapt to and cope with the situation to ensure continuity of business operations. Several research houses forecast the Thai economy this year will grow by a mere 1%. In view of this, exports should sustain and drive the economy in the second half, a continuation from the first half, which saw export growth of as high as 15.5%.

 

-- © Copyright NNT 2021-08-06

 

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