Debt restructuring periods offered to borrowers affected by the pandemic could be extended to more than 10 years, says Thai Bankers' Association (TBA) chairman Payong Srivanich. The refreshed debt aid measures effective from Friday cover debt restructuring, soft loans and the asset warehousing programme. The central bank extended the measures to the end of next year as they were set to expire at the end of this year. This easing should allow banks more options for debt restructuring, enabling a borrower to choose a programme in line with his or her income, business feasibility and debt repayment capability, he said. For instance, the debt restructuring period for the hotel and tourism sectors could be extended to 10-15 years, while that for mortgages could reach 20-25 years, he said.

Source: Bangkok Post September 03, 2021 23:03 UTC