IMF readjusts Thailand’s GDP forecast from -7.7% to -7.1%

[webfact]

IMF readjusts Thailand’s GDP forecast from -7.7% to -7.1%

 

Women walk past a row of bank automatic teller machines in a commercial building in Bangkok on September 1, 2020. (Photo by Romeo GACAD / AFP)

 

The International Monetary Fund (IMF) has adjusted Thailand’s GDP growth forecast, from -7.7% to  -7.1% for 2020. This is an indication that the Thai economy is recovering after the Government eased lockdown restrictions, according to Finance Minister Arkhom Termpittayapaisith.

 

He attributed the gradual economic recovery to the Government’s actions to help all businesses improve their cash flow.

 

He raised a concern, however, that the remedial measures, which include debt moratoria, are due to expire tomorrow and, hence, there is a need to continue them.

 

Full story: https://www.thaipbsworld.com/imf-readjusts-thailands-gdp-forecast-from-7-7-to-7-1/

 

-- © Copyright Thai PBS 2020-10-22

 

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[Cake Monster]

5 hours ago, webfact said:

He raised a concern, however, that the remedial measures, which include debt moratoria, are due to expire tomorrow and, hence, there is a need to continue them.

It seems that all the Debt restructuring which has placed many borrowers into ' Special Mention Loan " status has reduced the GDP growth forecast from Minus 7.7 % to minus 7.1 % by the IMF.

Anything to hide the amount of potential NPL that could possible wreck the Economy.

[hotchilli]

5 hours ago, webfact said:

He raised a concern, however, that the remedial measures, which include debt moratoria, are due to expire tomorrow and, hence, there is a need to continue them.

Governments short term measures.