Bank of Thailand will provide of 500 billion baht free to banks (0.01% interest rate) but government has to loan due revenue shortfall from COVID-19.

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Why government has to borrow money due impact of pandemic and in a meantime Bank of Thailand give 500 billion THB free money (0.01% interest rate) to fellow bank friends?

https://www.bot.or.th/English/PressandSpeeches/Press/2020/Pages/n2063.aspx

I am basically speechless.

Banks will profiting from unrestricted loansharking while 10 millions of peoples will loose their mortgages and other assets without job, income or any kind of support.

Such a shame Bank of Thailand and ** Veerathai Santiprabhob **

Posted Aug 19, 2020, 2:20 AM UTC · edited

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[deleted]•6 yr. ago

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[deleted]•6 yr. ago

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Lashay_Sombra•6 yr. ago

What's even dumber about all this funding is previous round was bearly used

Currently the bank has approved loans worth only Bt417 million, leaving Bt9.6 billion still available. ...

Loans totalling Bt2.5 billion are still available.

They keep tossing money into funds for buisnesses but banks did not relax leading criteria, quite the opposite. If in tourisim industry right now virtually impossible to get a loan without substantial collateral and even then very difficult.

Increasing the funds means nothing if no one can access them

IbahBar•6 yr. ago

Keynesian economy at work. I recommend reading the book “How an economy grows and why it crashes” by Peter Schiff

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BoilingKettle:THAI:Thailand•6 yr. ago

As part of the Austrian gang, seeing this makes me gag.

BoilingKettle:THAI:Thailand•6 yr. ago

Ah yes, more debt for our children and grandchildren!

[deleted]•6 yr. ago

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