In a pivotal move set to reshape Thailand’s economic landscape, newly appointed Prime Minister Paetongtarn Shinawatra has fast-tracked an extensive debt restructuring initiative to address the nation’s household debt crisis, estimated at a staggering $474 billion. The ambitious project aims to alleviate the financial burdens on small businesses, hasten fiscal stimulus, and catalyze overall economic growth. The sweeping debt overhaul, designed to transform the entire financial ecosystem, will particularly focus on providing relief to borrowers struggling with car and home loans. According to a drafted policy statement reviewed by Bloomberg News, the blueprint will be unveiled by the Prime Minister in parliament on September 12. Integral to this initiative, the restructuring will span across the informal sector and will leverage state-owned financial institutions, commercial banks, and asset management companies. The urgency stems from escalating household debt, which exceeds 16 trillion baht—equivalent to an eye-watering 90% of the nation’s GDP. “Rising…
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As a woman casually strolled past a newly fallen tree—courtesy of Typhoon Yagi’s ferocious impact—Hanoi, Vietnam felt the lingering aftershocks on Sunday. The Reuters-captured moment symbolized nature’s unpredictable might. Weather enthusiasts and forecasters keep a vigilant eye on what’s unfolding. In Thailand’s North and upper Northeast, the remnants of Typhoon Yagi are flexing their muscles. Known on Sunday as a downgraded tropical storm since its departure from the “severe tropical storm” title, Yagi was in no mood to retire quietly. By 7 AM, Yagi had convoluted its initial path to Vietnam, and forecasters noted it was trekking westwards with a plan to devolve further into a depression, ultimately morphing into a low-pressure area. So what does this mean for Thailand? The Meteorological Department’s insights are anything but inspiring for sunseeking tourists. The North and upper Northeast regions are on course to brave heavy downpours and windstorms. If you were hoping…
In the bustling heart of Bangkok, Prime Minister Paetongtarn Shinawatra gathered with her cabinet members at the historic Santi Maitree Building in Government House. Spirits were high as they prepared for a formal audience with Their Majesties the King and Queen at the Amporn Sathan Residential Hall, nestled within the majestic Dusit Palace. It was a significant occasion, and the air buzzed with a blend of tradition and forward-thinking optimism. (Photo Credit: Chanat Katanyu) According to the latest Super Poll survey, hope and expectations surrounding this newly-formed government are notably high. Conducted nationwide from September 6-7 with a sample size of 2,078 participants, the survey unveiled interesting insights. Among those who previously cast their votes for the Pheu Thai Party, a resounding 81.2% expressed their approval of the new leadership and its cabinet. On the other side of the political spectrum, the sentiments were quite different, with 75.6% of previous…
Thailand’s Prime Minister Paetongtarn Shinawatra was all smiles as she posed for a group photo ahead of a special cabinet meeting at the Government House in Bangkok this Saturday. The scene buzzed with energy and optimism, akin to the electric atmosphere of a premiere night. (Reuters photo). In her first major policy initiative, Thailand’s newly minted government is gearing up to launch a widespread debt restructuring campaign. Estimated at a whopping $474 billion, household debt is the prime target. The government has grand plans to reboot the economy, aid small businesses, and escalate fiscal stimulus to give growth a big boost. According to a draft policy statement seen by Bloomberg News, this ambitious debt overhaul aims to provide relief particularly to those grappling with car and home loans. Stay tuned for Prime Minister Paetongtarn’s announcement in parliament on September 12! The initiative won’t just be limited to the formal sector.…
Visitors flocked to witness the sunrise at the majestic Phanom Rung temple ruins in Chalerm Phrakiat district of Thailand’s Buri Ram province on Sunday morning. (Photo: Surachai Piragsa) The scene at Phanom Rung was far from ordinary as crowds gathered with high hopes of experiencing the temple’s legendary sunrise. However, Typhoon Yagi, which had been causing chaos across various parts of Asia, cast a thick layer of clouds, blocking the much-anticipated dawn spectacle over the ancient marvel on Sunday morning. About 200 eager tourists, both locals and visitors from around the globe, congregated at this remarkable historical site. They were there with the expectation to witness the breathtaking phenomenon where the sun aligns perfectly to illuminate through all 15 gates of the temple ruins. Scheduled between 6:00 and 6:15 AM, this extraordinary natural display was unfortunately overshadowed by the dense cloud cover, leaving the sun’s first light hidden from view.…
Pheu Thai secretary-general Sorawong Thienthong, the charismatic figure of the party, was spotted handing an invitation to Democrat secretary-general Det-it Khaothong at the Parliament in Bangkok on August 28th. The photo, which has been making rounds across social media, captured a moment that has since sparked fervent discussions and debates. But what do the people think about such a pivotal political alliance? The heartlands of the Democrats, especially the South, didn’t take the news lightly. According to an illuminating survey conducted by the National Institute of Development Administration (NIDA), the decision taken by the Democrats to join the Pheu Thai-led government has stirred quite the controversy. The survey was conducted over September 2nd and 3rd, with NIDA polling 1,310 individuals aged 18 and above, cutting across various educational levels, occupations, and incomes. The voices from 14 southern provinces were compiled to understand the sentiments towards the Democrats’ surprising move. Let’s…
Phrae: In a fervent display of unity and discontent, approximately 1,000 residents came together to protest the Pheu Thai Party’s controversial plan to resurrect the Kaeng Suea Ten Dam project in Song district. The impassioned protest took place in tambon Sa Lab, where locals creatively expressed their dissent by parading three coffins labeled with the names of Deputy Prime Minister and Defence Minister Phumtham Wechayachai, Public Health Minister Somsak Thepsutin, and former Deputy Prime Minister Plodprasop Suraswadi. These officials have been singled out as key proponents in reviving the contentious project. The catalyst for this protest was a recent statement by Mr. Phumtham, highlighting the government’s renewed focus on a mammoth 200-billion-baht water management initiative, which includes the contentious dam. The primary objective, according to Mr. Phumtham, is to mitigate flooding in the Yom River basin, a goal that has stirred both hope and concern among the local populace. The…
In a captivating display of camaraderie and commitment, Prime Minister Paetongtarn Shinawatra flashed mini-heart signs during a group photo session with her newly sworn-in cabinet ministers on Saturday. On the verdant lawn of Government House, the symbolic gesture embodied a promise for heartfelt governance even as His Majesty the King granted audience to approve the entire 35-member cabinet. These ministers have sworn an oath to serve the nation, pledging to work under Prime Minister Paetongtarn’s leadership. Determined to ensure stability and continuity in governance, Prime Minister Paetongtarn has vowed to completing her three-year term. Fresh off chairing a special cabinet meeting at Government House, she discussed significant plans to prepare the government’s policy statement, which is set to be presented to parliament on September 12–13. This crucial step must be taken before the government can proceed with its legislative agenda. “I am committed to fulfilling my duties until the end…
In the bustling heart of Bangkok, Gen Prawit Wongsuwon, the steadfast leader of the Palang Pracharath Party (PPRP), chaired a vital meeting at the party’s headquarters on Friday. As cameras flashed and journalists scribbled notes, one thing became abundantly clear: despite his and his party’s notable exclusion from the new coalition government, Prawit’s political sway remains as formidable as ever. Political pundits have been abuzz, speculating that Pheu Thai’s newfound partnership with the Democrat Party is more of a cunning maneuver than a bona fide olive branch. “The game is not over yet,” insists Sathit Wongnongtoei, a former Democrat Party MP. “Everyone is well aware of Gen Prawit’s extensive network within the political and independent sectors.” According to Sathit, Pheu Thai’s exclusion of the PPRP from the coalition led by Prime Minister Paetongtarn Shinawatra is no mere oversight. Rather, it’s a calculated move, with Prawit’s connections stirring suspicion. The general’s…
Forecasting this year’s flood situation, Chawalit Chantararat, a renowned water expert and director at Team Consulting Engineering and Management Public Company Limited (Team Group), predicts that the forthcoming floods will not mirror the catastrophic deluge of 2011. His optimistic outlook, recently shared with the Bangkok Post, is grounded in a combination of smaller water masses descending from the North and the country’s heightened preparedness to address potential flood disasters. Chawalit emphasized that while significant rainfall has been recorded in northern provinces such as Chiang Rai, Phayao, Phrae, Sukhothai, and Phichit, it has not yet reached levels capable of submerging the entire region. This year’s water flow past Muang district of Nakhon Sawan province was measured at 15.6 billion cubic meters, a stark contrast to the 23.4 billion cubic meters recorded on September 25, 2011. “The massive water volumes witnessed in 2011 were primarily due to the convergence of the Ping,…