Non-bank foreign debts down 4.8 per cent
The private non-bank sector's foreign debts declined moderately at the end of 2005 despite debts with some countries, including Singapore, continuing to increase, according to data from the Bank of Thailand.
The debts totalled US$23.6 billion (Bt918 billion) at the end of December, down 4.8 per cent on the previous year. Baht-denominated debts continue to rise speedily, accounting for 32.2 per cent of total loans in December, compared with 7.9 per cent in 2000.The private non-bank sector borrowed $3.6 billion in 2005 from Singaporean creditors, up 9.5 per cent on 2004. The increase was higher than for loans from US and Japanese creditors. Singapore has been the third largest creditor of the private non-bank sector since 2002, with loans accounting for 15.1 per cent of the total in 2005. US creditors continue to be the main loan providers, accounting for 26 per cent of the total. At the end of December, debts with US creditors amounted to $6.1 billion, up 4.5 per cent on the previous year. Debts with Japanese creditors - the second largest sector - amounted to $3.7 billion, or 15.8 per cent of the total, down 8.9 per cent on the previous year. Most of the debts, 48.7 per cent or $11.5 billion, were dollar-denominated, followed by 32.2 per cent in baht, 13.4 per cent in Japanese yen, and 3.1 per cent in euros. - Anoma Srisukkasem, The Nation
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