Thailand’s Ministry of Finance is progressing with plans to issue a 5 billion baht ($150m) government digital bond within two months, Finance Minister Pichai Chunhavajira announced Tuesday.
The so-called “G-Token” will raise funds directly from the public under the current budget borrowing plan, although it isn’t classified as a debt instrument, according to Patchara Anuntasilpa, director-general of the Public Debt Management Office, the Bangkok Post reported.
“Investors can invest with a small amount of cash for the new tokens,” Mr. Pichai said. “Investors will earn (a) higher return than bank deposits.” Thai banks currently offer 12-month deposit interest rates of about 1.25% to 1.5%, below the Bank of Thailand’s benchmark interest rate of 1.75%.
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