Digital wallet and debt moratoria schemes should not be for all : BoT governor

23 Sept 04:28 Key points summarised by AI

Bank of Thailand Governor Sethaput Suthiwartnarueput urges targeted implementation for the "digital wallet" scheme and debt moratoria for farmers, opposing universal application.
He argues that a universal digital wallet would be inefficient, as not all eligible recipients require the funds, advocating for a focus on those genuinely in need to save significant public money.
The Governor highlights historical data showing that past universal debt moratoria led 70% of farmers to incur more debt, emphasizing that temporary relief fails to address chronic indebtedness and can have negative consequences.
The central bank has conveyed concerns to the Prime Minister regarding the digital wallet's estimated 560 billion baht cost, stressing the importance of fiscal discipline and a clear mid-term financial outlook.

Nationwide crackdown launched on illegal nominee shareholders and land holdings

Yesterday 15:20 Key points summarised by AI

Thailand's Prime Minister Anutin Charnvirakul initiated a nationwide crackdown on illegal Thai nominee shareholders in foreign-run businesses and land holdings to safeguard national interests.
The government will integrate efforts across all relevant agencies to target illicit foreign operations, forced sales of illegally acquired property, and high-risk land ownership schemes.
Key strategies include auditing suspect land and building holdings, establishing a long-term monitoring system, and cross-referencing data from various authorities to trace ultimate beneficial owners.
Prime Minister Anutin emphasized that no influential figures or corrupt officials are above the law, promising straightforward prosecution, asset seizures, and protection for enforcing officers.
Beyond land ownership, the integrated crackdown will also extend to tackle transnational crimes, including drug and human trafficking.