Thailand lacks baht for Srettha's digital wallet plan, economist warns

Risk of crisis from local currency shortage 'should not be underestimated'

Thai Prime minister Srettha Thavisin outlines the government's digital money handout plan at a news conference in Bangkok on Nov. 10. (Photo by Hiroki Endo)

TOYOAKI FUJIWARA, Editor-in-Chief, Editorial Headquarters for Asia

November 30, 2023 08:27 JST

BANGKOK -- As stock prices in Thailand slump and its household debt swells, the country is seeing shades of the Asian currency crisis of the late 1990s. In response, Prime Minister Srettha Thavisin is pressing forward with his economic agenda, headlined by a plan to hand out 10,000 baht ($285) per person to 50 million Thais via a digital wallet.