Ministry of Finance, Ministry of Finance says fake news is hurting the Thai economy. The Ministry of Finance is preparing to finalize a plan to issue 1 billion USA bonds for foreign sales, hoping to create reference interest for Thai private companies. Expected to issue 40 billion baht in savings bonds this March.
Mr. Phachara Anantasin, Director of the Public Debt Management Office (P.B.O.), confirmed that Sharing messages on social media stated that ‘The second attack on the baht has begun by selling 1,000 million USA government bonds. Thailand is preparing many companies. who had a problem with bonds going out to raise funds” admitted that it was fake news and had already written a report to the DSI police
For plans to issue bonds abroad After Thailand has not issued bonds to borrow money from foreign countries for more than 20 years because interest rates in the world market are low. Moreover, the Prime Minister travels to speak at many forums around the world. If you want to raise funds abroad, borrow
ing money abroad has both advantages and disadvantages. As for the advantages, it creates reference interest for the Thai private sector. who are ready to issue bonds abroad without having to compete for liquidity within the country When the government goes out to borrow money It will be the leader of the process for the Thai private sector to use as reference interest. Borrow more money abroad
As for the disadvantages, I admit that there are still risks. If you borrow money in the country with a stable or decreasing interest rate trend If you borrow money abroad, the interest is high. May cause higher costs create a higher burden Public Debt Management Office Therefore, you must carefully study the advantages and disadvantages and set a framework of 500-1,000 million US dollars. Prepare to summarize all guidelines during March. To propose to the Ministry of Finance for consideration and decision. Will the Ministry of Finance issue foreign bonds? Accept that when sending signals to international organization
s or financial institutions A lot of people have come to inquire, including ADB and JICA. The Thai government still has its credit rating maintained. From every international organization ranked BBB+ over the past 10 years
As for the new loan plan adjustment in 2024, the amount is 754,710 million baht, divided into government borrowing 603,211 million baht, state enterprises 128,199 million baht, other government agencies 23,000 million baht, considered to be additional borrowing from the original plan of 650,276 million baht. The Cabinet did not approve. Has approved a loan framework to support the digital wallet project. But it is a loan from the budget deficit and state enterprises according to the original plan. But the limit is close to the digital wallet of 500 billion baht, so interpretations arise. that a financial limit framework is prepared to support new borrowing, which requires the issuance of an additional loan act
Mr. Pachara added that Mr. Chulphan Amornvivat, Deputy Minister of Finance Prep
are to announce plans to issue savings bonds. To be sold to the general public on February 22, 2024, from a total of 100 billion baht, the first installment of 40,000 million baht, with a maturity of 5-10 years, for the general public to purchase bonds, especially those purchased through the Paotang App, are expected to be sold. At the end of March this year.
Source: Thai News Agency