Panel to Monitor Debt Restructuring

The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) will spend three months monitoring the debt restructuring progress of small and medium-sized enterprises (SMEs), on a case-by-case basis, after the Bank of Thailand's debt relief measures in the second phase expire tomorrow, the Bangkok Post reported. Though the central bank will not prolong debt relief measures, the regulator encourages financial institutions to help borrowers who cannot pay debt normally to enter debt restructuring. Commercial banks can offer debt restructuring to customers through several methods in line with their repayment capability. These include a grace period for interest and principal payment, interest rate cuts, debt instalment period extension and a lower debt instalment per month. Read more