B400bn fund to steady corporate bond market : The Bank of Thailand (BoT) insisted yesterday the planned establishment of a 400-billion-baht corporate bond fund managed by itself is a necessary instrument in stabilising the corporate bond market amid concerns about possible interference from economic experts. Bangkok Post
Coronavirus aid rejectees raise ruckus at ministry : Dozens of people who yesterday turned up at the Finance Ministry to appeal its decision to reject their claims for a 5,000-baht cash handout to help tide them over the Covid-19 crisis have now threatened to rally at Government House. Bangkok Post
TBA puts losses from coronavirus at B1.3tn : Damage represents 7.7% of Thai GDP. The economy could suffer a record blow of 1.3 trillion baht in damage from the spiralling spread of the coronavirus, according to preliminary estimates by the Thai Bankers’ Association (TBA). Bangkok Post
S&P revises Thailand’s ratings to stable on Covid-19 jitters : S&P Global Ratings has revised its outlook on Thailand to stable from positive on Covid-19 uncertainty, with a possible downgrade given heightening political uncertainty and persistent sluggish economic recovery. Bangkok Post
Firms sound knell for 10m job toll : Possibility from 2-3 months of pandemic. Thailand risks unemployment surging to 10 million people if the pandemic lasts another 2-3 months, according to the private sector. Bangkok Post
Relief cash only covers a month : Govt awaits law to expand aid, PM says. Prime Minister Prayut Chan-o-cha has stressed the government has yet to finalise the period for its 5,000-baht cash handout scheme to those affected by Covid-19, as the existing fund only covers one month. Bangkok Post
Inbound flights ban extended : The Civil Aviation Authority of Thailand (CAAT) has extended its ban on inbound flights to April 30. Bangkok Post
Mad dash to cash in on gold spike : Local markets struggle with volume. Thailand’s net gold exports of 18,052 kilogrammes in February and 17,638kg in March outpaced the total volume in 2019 of 13,528kg, indicating a mad rush to sell the metal, while the lopsided market has compelled some goldsmiths to temporarily shut down for fear of a cash shortage. Bangkok Post
NBTC’s prepaid fees request unheeded : Three major mobile operators have shrugged off requests from the National Broadcasting and Telecommunications Commission (NBTC) to lower service fees, insisting their new prepaid promotional pandemic packages suffice to ease public burden, with up to 30% fee reductions. Bangkok Post
IMF: Thai GDP down 6.7% : The IMF downgraded the economic forecast for Thailand in 2020 to a contraction of 6.7%, making it the worst performer among its Asean peers if the multinational lender’s projection holds true. The revision is attributed to the economic toll of the coronavirus. Bangkok Post
@2.: if there won’t be any help for the affected people very soon very fast i don’t think that it will be merely ‘dozens’ who will rally. if/when people will start to be more afraid of the consequences of business shutdowns and job losses than of covid-19, well…
peter satrapa-binder
@2.: if there won’t be any help for the affected people very soon very fast i don’t think that it will be merely ‘dozens’ who will rally. if/when people will start to be more afraid of the consequences of business shutdowns and job losses than of covid-19, well…
Pon
My first thought was “riots coming”
peter satrapa-binder
they might be correct…