The prolonged nature and long-lasting effects of the Covid-19 pandemic mean commercial banks and clients should focus on long-term debt restructuring, says the Bank of Thailand. Ronadol Numnonda, the central bank’s deputy governor for financial institutions stability, said short-term debt suspensions or restructurings are not proportionate to the suffering of bank clients as a result […]
Read MoreThe timing and adjustment of policy rates must be decided based on the actual situation. The State Bank of Vietnam (SBV) does not consider lowering its current policy rates at present as such a move would depend on the economic performance. SBV’s Vice Governor Dao Minh Tu made the remarks in reference to recent rumors […]
Read MoreThe baht opened at 33.46 to the US dollar on Wednesday, its lowest in three years and unchanged from Tuesday’s closing rate. The Thai currency is likely to move between 33.40 and 33.55 during the day, Krungthai Bank market strategist Poon Panichpibool said. He said the baht was likely to be volatile and weaken due […]
Read MoreMANILA, Philippines — The net inflow of foreign direct investments (FDIs) fell for the first time this year, contracting by 25.4 percent to a year-low of $429 million in May from $575 million in the same month last year because of concerns about rising COVID-19 cases worldwide due to new and more contagious variants. Data from […]
Read MoreKUALA LUMPUR: The Malaysian economy is expected to grow sharply in the second quarter from a low base in the year-ago period, but COVID-19 lockdowns will hamper growth, according to economists polled by Reuters. The economy is seen growing 14.3% year-on-year between April and June, according to the median estimate of a Reuters poll of […]
Read MoreCoronavirus lockdowns will slow the pace of economic recovery in the 10 ASEAN countries according to Moody’s Investors Service. The world’s biggest credit ratings company says that may harm the ability of borrowers to repay their debts, putting strain on the banking industry. “Banks in Thailand, the Philippines and Indonesia are particularly vulnerable as their […]
Read More
Thailand
