Thais rule out debt delay<\/p>\n
BANGKOK (AFP): The central Bank of Thailand (BoT) yesterday
\nruled out a Thai debt moratorium following Indonesia's
\nannouncement of plans to stall debt repayments by its corporate
\nborrowers.<\/p>\n
"We do not need to follow Indonesia's lead," the BoT's
\nFinancial Supervision Department director, Kleothong Hetrakul,
\ntold AFP-affiliated financial news agency AFX-Asia.<\/p>\n
She said Thailand's economic problems were less serious than
\nIndonesia's and the proposed "voluntary" debt moratorium by
\nJakarta should not have any impact on Thailand as the baht was
\nseen as stable.<\/p>\n
The comments followed an Indonesian announcement that it would
\nask lenders for a "voluntary" moratorium on debts crushing
\ncorporate borrowers.<\/p>\n
Separate committees representing senior international bankers
\nfrom the main creditor countries and the Indonesian borrowers
\nwould be established to negotiate settlements on a company-by-
\ncompany case.<\/p>\n
Thailand has been crippled under the weight of US$70 billion
\nin public debt and almost $40 billion in private debt, compounded
\nby the crash of the baht since its float last year.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/thais-rule-out-debt-delay-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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