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Thailand: Tourism levy mulled

The Tourism and Sports Ministry is considering a tax of 300 baht or less per person for foreign arrivals that could cover pandemic insurance, once inbound flights and tourism activities resume in the country. Phiphat Ratchakitprakarn, the tourism and sports minister, said the tax would be collected once foreigners arrive by air, land or sea […]

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Philippines: Fitch unit now sees GDP contracting

MANILA, Philippines — Fitch Solutions Country Risk & Industry Research now expects the Philippine gross domestic product (GDP) to contract by two percent instead of growing by 0.5 percent this year as the shock from the coronavirus pandemic would drag the country into recession. The research unit of the Fitch Group said the coronavirus disease […]

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Indonesian banks have sufficient liquidity despite loan restructuring, pandemic: Economists

The liquidity of Indonesian banks will remain in check despite economic risks brought by the COVID-19 pandemic and loan restructuring program that defers credit repayments, economists have said. Fitch Ratings director for banks Gary Hannify said Indonesia’s 12-largest banks had ample liquidity as reflected in liquidity coverage ratios of about 180 percent at the end of 2019, adding […]

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