Finance Ministry Borrows 50 Billion Yen from JICA

[webfact]

 

BANGKOK, May 5 (TNA) – The Finance Ministry borrows 50 billion yen from the Japan International Cooperation Agency (JICA) under an executive decree allowing it to borrow 500 billion baht to solve economic and social problems resulting from COVID-19.

 

Finance Minister Arkhom Termpittayapaisith and JICA representative Morita Takahiro signed an agreement on the COVID-19 Crisis Response Emergency Support Loan worth 50 billion yen (about 13.17 billion baht).

 

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The loan is subject to 0.01% interest and has a 15-year repayment period and a four-year grace period. The conditions were standard for the loans that the Japanese government offered to many countries to help them cope with COVID-19 impacts.

 

Full story: https://tna.mcot.net/english-news-936386

 

-- © Copyright Thai News Agency 2022-05-05

 

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[Bluespunk]

22 minutes ago, webfact said:

The Finance Ministry borrows 50 billion yen from the Japan International Cooperation Agency (JICA) under an executive decree allowing it to borrow 500 billion baht to solve economic and social problems resulting from COVID-19.

How much do German made submarine engines cost again?

[trainman34014]

And how much of it will be diverted to Accounts of certain Thai Generals in Caribbean Bank Accounts ?

[StayinThailand2much]

"March 2022, foreign exchange reserves for Thailand was 242,430.5 million US dollars."

 

So, among the 242 billion US$ foreign exchange reserves, they couldn't find 50 billion Japanese yen (385 million US$)? - Are all the reserves in Chinese yuan?

Edited May 5, 2022 by StayinThailand2much

[StayinThailand2much]

1 hour ago, trainman34014 said:

And how much of it will be diverted to Accounts of certain Thai Generals in Caribbean Bank Accounts ?

Caribbean? Probably Switzerland.

[hotchilli]

3 hours ago, webfact said:

The Finance Ministry borrows 50 billion yen from the Japan International Cooperation Agency (JICA) under an executive decree allowing it to borrow 500 billion baht to solve economic and social problems resulting from COVID-19.

8 years and the military regime have bankrupted Thailand.. the pot is empty.

[hotchilli]

15 minutes ago, StayinThailand2much said:

"March 2022, foreign exchange reserves for Thailand was 242,430.5 million US dollars."

 

So, among the 242 billion US$ foreign exchange reserves, they couldn't find 50 billion Japanese yen (385 million US$)? - Are all the reserves in Chinese yuan?

Off-shore accounts?

[Cake Monster]

I know the Interest Payments on this Loan are very small at 0,01  %, and the repay time is relatively long at 15 Years, but I really have to ask the question " Why does Thailand have to borrow such a small amount on this Loan, when they are all but going to make the disease endemic, and boast about such a large Foreign Currency surplus ".

Hmmmmm

 

[Excel]

2 hours ago, trainman34014 said:

And how much of it will be diverted to Accounts of certain Thai Generals in Caribbean Bank Accounts ?

99%

[RafPinto]

The Chinese brother's and sister's didn't want to loan any money?

[AgMech Cowboy]

And the Baht goes down...

[mikebell]

16 hours ago, hotchilli said:

Off-shore accounts?

It's why the baht is kept artificially strong v US $.

[Virt]

19 hours ago, StayinThailand2much said:

"March 2022, foreign exchange reserves for Thailand was 242,430.5 million US dollars."

 

So, among the 242 billion US$ foreign exchange reserves, they couldn't find 50 billion Japanese yen (385 million US$)? - Are all the reserves in Chinese yuan?

It's hard to find 385 million US$ if you only have 242 million US$, but i recon you made a typo in the first one ????

[StayinThailand2much]

7 hours ago, Virt said:

It's hard to find 385 million US$ if you only have 242 million US$, but i recon you made a typo in the first one ????

No, you can google it. Thailand's foreign currency reserves are not 242 million US$, but 242,430.5 million (242 billion) US$!

Edited May 6, 2022 by StayinThailand2much

[Virt]

17 hours ago, StayinThailand2much said:

No, you can google it. Thailand's foreign currency reserves are not 242 million US$, but 242,430.5 million (242 billion) US$!

Ahh, the two different numbers just confused me. I thought you meant 242 Point something millions. I'm used to a different punctuation when doing American millions to billions. (Here a billion is actually a trillion, since we use a system with million, milliard, billion, trillion)

[herfiehandbag]

On 5/5/2022 at 3:53 PM, StayinThailand2much said:

"March 2022, foreign exchange reserves for Thailand was 242,430.5 million US dollars."

 

So, among the 242 billion US$ foreign exchange reserves, they couldn't find 50 billion Japanese yen (385 million US$)? - Are all the reserves in Chinese yuan?

 

On 5/5/2022 at 4:09 PM, hotchilli said:

Off-shore accounts?

I should imagine that the "hard currency reserves" are, how can I put it, "spoken for" or "earmarked"?

 

This should keep the trough topped up for a while.

[zzaa09]

On 5/5/2022 at 1:54 AM, StayinThailand2much said:

Caribbean? Probably Switzerland.

This Swiss-German-Thai association [that no one speaks of] is a little too cozy for some. ????????

[herfiehandbag]

1 hour ago, zzaa09 said:

This Swiss-German-Thai association [that no one speaks of] is a little too cozy for some. ????????

Expensive part of the world! Have you seen the price of Toblerone?