Thailand to sell US$1.57b government savings bonds for support measures

[BANGKOK] Thailand will sell US$1.57 billion of government savings bonds next month to finance relief measures, the finance ministry said on Friday, as the Southeast Asia nation battles its biggest coronavirus outbreak so far.

The proceeds will be for spending measures, including a co-payment scheme and cash handouts for low-income people, Patricia Mongkhonvanit, head of the ministry's public debt management office, told a briefing.

Last month, the Cabinet approved an additional economic relief package worth US$8 billion to help people affected by the latest outbreak.

The bonds, to be offered from July 5 to 23, are three-year issues with an annual average coupon of 1.8 per cent and four-year issues with a 1.9 per centcoupon on average, the ministry said.

The debt is part of a 1 trillion baht (S$42.2 billion) borrowing plan announced last year in response to the pandemic.

REUTERS