The Ministry of Finance" supports state banks in setting up a joint venture company, "JV AMC," to solve debt of 3 million accounts, total debt of more than 200 billion baht. Dr. Paophum Rojanasakul, Secretary to the Minister of Finance, said that the Ministry of Finance's measures to solve public debt Let there be progress. Therefore, it encourages state banks. Established a joint venture company, JV AMC, which is a 50:50 joint venture between a state-owned specialized bank and an asset management company to solve problems that have been piling up for a long time in solving people's debt problems. Because state banks have restrictions on debt restructuring, such as not being able to write off principal. The tracking fee is not worth the debt. Accounting standards are an obstacle. Therefore it is a chronic problem. Lack of flexibility As a result, bad debt has not been corrected for a long time, resulting in a large number of bad debts. The Ministry of Finance therefore promotes the establishment of a joint venture company, JV AMC, to receive the transfer of debtors with a credit line not exceeding 20 million baht from a state-run specialized bank to a joint venture company, JV AMC, leading to debt restructuring for debtors at least once, with flexibility and without obstacles. Accounting standard criteria Easier to reduce installment payments Cut the principal - pay off debt faster. To free people from bad debt and can return to the credit system again At the same time, bad debt of state banks will be managed directly in the hands of experts in managing non-performing assets. In addition to managing bad debt more flexibly It also allows the state's specialized banks to have funds to expand assistance to the people more widely. Therefore, the goal is to help debtors with bad debt outstanding with SFIs, approximately 3 million accounts, with a debt value of 230,000 million baht, within the first quarter of 2024.-515 - Source: Thai News Agency