Cabinet approves farmer debt haircut

April 7, 2010

ผ่านทางCabinet approves farmer debt haircut.

The Cabinet approved the debt haircut to 510,000 farmers who owed a combined amount of Bt80 billion.

Deputy Prime Minister Sanan Kachornprasart said the Cabinet approved the Bank for Agriculture and Agricultural Cooperatives’s proposal for the 50 per cent debt reduction for farmers whose debts are no more than Bt250,000 each. The farmers will then need to repay the remaining debt within 15 years, or would face legal lawsuits.

He said the process will be completed within 6 months.

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