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PM Prayut vows to get rid of informal debts

PM Prayut vows to get rid of informal debts

13 Sept 21:26 Key points summarised by AI
  • Prime Minister Prayut Chan-o-cha condemned informal debt as an "evil" and pledged to aggressively tackle the issue, highlighting 900,000 people owing 52 billion baht.
  • Since July, the government has facilitated compromise agreements, successfully restructuring debts for over 200,000 debtors.
  • Legal action has been taken against uncooperative creditors, leading to the reclamation of 7,000 rai of land and vehicles worth 3 billion baht.
  • For farmers, the government negotiated with banks to restructure 6 billion baht in debts for 36,000 individuals, significantly reducing total debts and suspending interest payments for long-term obligations.
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