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Boom time for lenders as debt balloons

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  • Writer: Orathai Sriring/Reuters
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"Business is great," said Aoy, a moneylender who charges a whopping 10% a month interest but finds plenty of takers in Thailand, where a huge pile of household debt is complicating the military government's efforts to revive a sluggish economy. 

Loan shark website pages opened in a mobile phone internet browser are seen in this photo illustration taken in Bangkok June 28, 2014. (Reuters photo)

Thai households are among the most indebted in Asia, and the official figures understate the problem due to the large sums also owed to loan sharks — estimated at as much as 2.4 trillion baht ($74 billion).

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