Debt holiday plan issued by Bank of Thailand


          BoT has announced a debt moratorium proposal, which would offer a two-month debt holiday for individuals and small and medium-sized enterprises (“SMEs”) who have been directly impacted by the government’s newest lockdown measures. Employees and employers in 13 provinces who have temporarily closed their businesses as a result of the tougher lockdown restrictions are the focus of this strategy. Strict measures, such as a curfew and the closure of some businesses, travel outside the province etc.

          In addition, the BOT intends to work with related parties such as the Government Financial Institutions Association and non-bank lending institutions to broaden the debt suspension procedures to encompass as many borrowers as possible.

          Moreover, the Government Savings Bank (“GSB”) would halt principal and interest payments for its customers in the 13 impacted provinces beginning in July for a six-month period.

          Depending on the borrower, the procedure begins with instalment payments for July or August. Borrowers who would like to apply for this debt suspension method may do so beginning on 19 July 2021.


Legal Insight Vol. August 2021 of Bangkok Global Law 

The PDF file can be downloaded via the link as set below. 

Debt holiday plan issued by Bank of Thailand_Bangkok Global Law