It's catch-22 for the govt if it raises funds to pay angry rice farmers with new loans and bonds, but there's another way to get the money, says Veera Prateepchaikul | Bangkok Post: opinion

Opinion > Opinion

There's always the Thaksin billions

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The Jan 25 deadline promised by the government for the payment of rice farmers who have pledged their rice crops as far back as October is likely to be missed again. 

There is still no good news about the government’s announced plan to raise funds through the sale of bonds and to secure loans from commercial banks to raise a total of 130 billion baht to pay the farmers through the Bank of Agriculture and Agricultural Cooperatives, the main sponsor of the rice pledging scheme.

The caretaker government is anxiously awaiting advice from the Council of State whether it can, through the Finance Ministry, go ahead to secure the needed funds through both means – offering bonds and obtaining bank loans. No details are available about the size of the bank loans or the bond isssue. That is treated as confidential and not for the public to know - like all information relating to the rice pledging scheme.

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