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Finance

Thai banks give coronavirus-hit borrowers one-year moratorium

Low-interest loans, tax cuts and deductions also enter fight against epidemic

Thai mortgage holders who are laid off from their jobs amid the coronavirus epidemic will not have to make payments for a year.   © Reuters

BANGKOK -- Thai banks have offered companies hit by the novel coronavirus more time to repay loans.

The debt-relief package, announced by the Thai Bankers' Association, comes on top of state measures to mitigate the epidemic's potential $6.4 billion blow to the country's long-stagnant economy. The yearlong grace period on loan repayments being offered by banks covers companies in the tourism sector, exporters, importers and retailers.

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