Households and SMEs Finance

Sustainable Solutions to Thailand’s Household Debt Problems

“Despite set of measures issued and continuous economic recovery, Thailand’s household debt-to-GDP ratio is likely to exceed the watchful level of 80% which will impede long-run economic growth and could also pose risk to the country’s financial stability and other problems.”

“To enhance household well-being, the BOT has issued the Directional Paper on Sustainable Solutions to Thailand’s Household Debt Problems as guidelines for all stakeholders to assist the country in alleviating household debt problems which covers resolving existing debt, overseeing new loan quality, and developing essential infrastructure.”

“The sustainable way of solving household debt comprises the following principles. Comprehensiveness: address debt problems on each phase of the debt journey (before applying for a loan / signing a loan contract, while being a debtor, and having debt problems). Fairness and appropriateness: directly address the root cause of the problem, not increase debt burden on the borrower, not reduce the borrower’s access to credit, and obtain genuine willingness from both creditors and debtors. Stakeholders’ involvement: foster collaboration among all stakeholders, including government and private sectors, creditors, and debtors.”

Download Documents

  • Sustainable Solutions to Thailand’s Household Debt Problems

  • Press Release

Read more about the Thai Financial Landscape

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