Bangkok: "Pichai" has assured the public that the recent earthquake will not disrupt the economy or the treasury. He has instructed state banks to inspect their buildings to ensure the continuation of money transfer services. Additionally, measures have been expedited to assist victims, extend debts, and boost investment to support business recovery.
According to Thai News Agency, Mr. Pichai Chunhavajira, Deputy Prime Minister and Minister of Finance, has confirmed the stability of the economic and financial system following the earthquake. There have been no reports of significant damage to the economic infrastructure, fiscal systems, or the financial network of the country. Despite widespread concerns caused by the tremors, government operations and financial activities remain unaffected. The Ministry of Finance has mandated thorough inspections of buildings and systems within its jurisdiction to reassure both public servants and the general populace about the safety of government facilities.
The Ministry is diligently working to support those impacted by the earthquake through its subordinate agencies. Seven state banks have been directed to implement relief measures for both existing and new borrowers. These measures include offering low-interest loans, providing loan guarantees, and temporarily suspending debt repayments to reduce financial burdens and supply working capital for recovery efforts. This assistance aims to facilitate the repair and restoration of damaged property and equipment, enabling businesses to resume operations. Affected individuals are encouraged to contact state-owned financial institution branches or their hotlines for immediate assistance.
Furthermore, the OIC has been tasked with collaborating with the Life Assurance Association and the General Insurance Association to monitor the situation closely and assist policyholders. Insurance companies have been instructed to assess damages and, if necessary, adjust fire insurance or Industrial All Risks policies to cover earthquake-related incidents. In response to the earthquake, the Stock Exchange of Thailand announced the closure of all markets this afternoon from 2:07 p.m. to ensure the safety of employees and clients.
Mr. Pichai has urged the public, investors, and business operators to remain confident in the resilience and stability of Thailand's economic system. He assured that government agencies are prepared to implement all necessary measures to manage the situation effectively. The Ministry of Finance will continue to monitor developments closely and will provide updates as needed.