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  1. #1
    Thailand Expat misskit's Avatar
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    Thailand to sell $2 billion savings bonds to finance stimulus measures

    BANGKOK (Reuters) - Thailand will sell 60 billion baht ($2 billion) of government savings bonds next month to help finance stimulus measures to mitigate the impact of its latest coronavirus outbreak, the finance ministry said on Monday.


    The government last week announced new stimulus worth $7 billion to support domestic activity hit by the spread that has infected 9,450 in just over a month.


    The bonds will be offered in three maturities, with five- and 10-year bonds giving an average coupon of 2.0% and 2.5% per year, respectively, and 15-year bonds offering a fixed coupon of 1.8%, the ministry said in a statement.

    “The bonds should be sold out as they are secure and offer good returns,” Patricia Mongkhonvanit, head of the ministry’s public debt management office, told a briefing.


    The new stimulus will also be financed by other borrowing, including government bonds and some from an earlier loan from the Asian Development Bank, she said.


    All of the debt is under a 1 trillion Thai baht ($33.37 billion) borrowing plan announced last year in response to the pandemic.


    Of that, about 394 billion baht had been obtained and the remainder will be acquired in the current fiscal year, Patricia said, adding 373 billion baht had been disbursed so far.


    The country’s public debt to gross domestic product (GDP) will not exceed 56% at the end of this fiscal year that ends in September, she said. The debt stood at 50.46% of GDP as of November last year.


    Thailand to sell $2 billion savings bonds to finance stimulus measures | Reuters

  2. #2
    Thailand Expat Saint Willy's Avatar
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    Quote Originally Posted by misskit View Post
    and 15-year bonds offering a fixed coupon of 1.8%, the ministry said in a statement
    im no analyst, but 1.8% over 15 years sounds rubbish

  3. #3
    Thailand Expat jabir's Avatar
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    They could try selling the entire issue, at a preferential rate like 60-70%, to some local looking for a place to park bits of his recently scammed money mountain.

  4. #4
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    Quote Originally Posted by TheRealKW View Post
    im no analyst, but 1.8% over 15 years sounds rubbish
    That is the rate per year. Not exciting, true. Pension funds need to balance returns and risk. They have huge amounts to invest so I am sure some of it will go here.
    Would I buy this? No.

  5. #5
    กงเกวียนกำเกวียน HuangLao's Avatar
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    Quote Originally Posted by jabir View Post
    They could try selling the entire issue, at a preferential rate like 60-70%, to some local looking for a place to park bits of his recently scammed money mountain.
    Regardless of how it's written, promoted or practiced - rest assured one will find deep skullduggery involved, as it's all manipulated to benefit "them" in one scrupulous manner or another.
    The nature of all things government and close associations.


    The COVID era is a great and convenient conduit to justify most everything underlying corrupted and scandalous - being witnessed the world over.

  6. #6
    Thailand Expat jabir's Avatar
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    Sure, the covid is responsible for tremendous and dramatic changes, but dwelling on it doesn't change the hard fact that the US cannot print its way out of the consequences of having printed its way into the pit.

    My theory from before remains, that the top shelf are fully aware it's falling apart, and bailing out with whatever they can less subtly than before, when a bit of cooing used to satisfy the naïve masses.

    And when it does go pop, later this year and ferociously, the US ruling classes will blame Trump and the Russians, while the EU fingers Brexit and who knows, maybe climate change. Nobody will blame their own administrative and fiscal arrogance, corruption, and incompetence.

    Free advice: If you own stock and other assets that are vulnerable in that space between correction and depression, keep a finger on the sell key.
    Bitcoin accepted: 16ftSEQ4ctQFDtVZiUBusQUjRrGhM3JYwe

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