Cabinet agrees to allocate ฿1.5Bn to refinance about 50,000 farmers’ debts

[snoop1130]

 

Protesting Thai farmers cheered after the cabinet agreed to set aside about 1.5 billion baht from the Central Fund to support four state-run banks in refinancing the debts of about 50,000 farmers.

 

The farmers had been rallying in front of Government House for more than seven hours, waiting for the government’s response to their demand for help to refinance their debts with the Bank of Agriculture and Agricultural Cooperatives, the Government Savings Bank, the SME Bank and the Government Housing Bank.

 

A leader of the protesting farmers, Yossawat Chaiwattanasirikul, said that the indebted farmers are expected to settle all their debts with the banks within 15 years.

 

Full Story: https://www.thaipbsworld.com/cabinet-agrees-to-allocate-1-5bn-to-refinance-about-50000-farmers-debts/

 

-- © Copyright Thai PBS 2023-03-14

 

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[OneMoreFarang]

1 hour ago, snoop1130 said:

A leader of the protesting farmers, Yossawat Chaiwattanasirikul, said that the indebted farmers are expected to settle all their debts with the banks within 15 years.

Really?

Like: 15 years, that is so far in the future. I will be rich at that stage and sure I will be able to pay everything, no problem.

Reality: Great, I don't have to pay now. Let's borrow some more and buy that pickup and a new bike. Sure, soon I will be rich. And then: Hey government, give me a break. I am a poor farmer, and I don't make much money, how can you expect that I pay all that money?

And another politician will promise to rescue the poor farmers. TiT

And if they don't do that then the farmers will be angry and vote for someone else.

 

 

[chickenslegs]

1 hour ago, snoop1130 said:

the cabinet agreed to set aside about 1.5 billion baht from the Central Fund to support four state-run banks in refinancing the debts of about 50,000 farmers.

Smells like there could be an election soon.

[HuskerDo2]

Here's a beautiful opportunity to put a dent in the air pollution. Have them sign an agreement not to burn. An agent will stop by unannounced several times during the season to ensure there is no sign of burning. If there is, then the loan is rescinded and they will pay a nice big fine on top of that.

[tomazbodner]

Why don't all farang go protest and demand that government allocates some billions to pay their 800k to keep in the bank to get extensions? I mean they are throwing money around at everyone, so why not join in?

[Dan O]

3 hours ago, OneMoreFarang said:

Really?

Like: 15 years, that is so far in the future. I will be rich at that stage and sure I will be able to pay everything, no problem.

Reality: Great, I don't have to pay now. Let's borrow some more and buy that pickup and a new bike. Sure, soon I will be rich. And then: Hey government, give me a break. I am a poor farmer, and I don't make much money, how can you expect that I pay all that money?

And another politician will promise to rescue the poor farmers. TiT

And if they don't do that then the farmers will be angry and vote for someone else.

 

 

Wonder how much will make it to the needy farmers and how much will evaporate on the way?

[hotchilli]

9 hours ago, snoop1130 said:

A leader of the protesting farmers, Yossawat Chaiwattanasirikul, said that the indebted farmers are expected to settle all their debts with the banks within 15 years

Laughable.....

[mikebell]

7 hours ago, tomazbodner said:

Why don't all farang go protest and demand that government allocates some billions to pay their 800k to keep in the bank to get extensions? I mean they are throwing money around at everyone, so why not join in?

We don't have any votes to buy.

[SOTIRIOS]

...Works Out To 30,000 Baht Per...(?)

...What Can They Do With That Besides Survive...(?)

[hotchilli]

17 hours ago, snoop1130 said:

Protesting Thai farmers cheered after the cabinet agreed to set aside about 1.5 billion baht from the Central Fund to support four state-run banks in refinancing the debts of about 50,000 farmers.

Must be nearing the election.

[vandeventer]

If we don't help the farmers it's back to eating that plastic rice!

[zyphodb]

19 hours ago, tomazbodner said:

Why don't all farang go protest and demand that government allocates some billions to pay their 800k to keep in the bank to get extensions? I mean they are throwing money around at everyone, so why not join in?

We don't get a vote...

[kickstart]

I read an article in The Nation must have been 20 years ago, saying then with compound interest it would be 50 years before all the farmers paid back all of, they debt.

I live in a bid dairy cow area I know a few farmers who are in debt to the BAAC  to the tune of 800 000 baht ,I would say others are the same, some more Also we have a lot of sugar cane in our area a high investment crop a lot of farmers are in debt to the same tune ,a lot get their sugar cane cheque ,pay off some of their debt ,then borrow some more ,the debt never comes down ,it will take a lot more than 15 years to pay off most of these debts.

And remember in our countries farmers are subsidized  by the govenment ,here in Thailand it is only the rice farmers that get any subsidies