Thailand ‘Helicopters in’ Debt Relief

In Thailand, the Pheu Thai Party under new prime minister Paetongtarn Shinawatra has implemented a US$13.8 billion stimulus package called a “digital wallet” system to provide financial support to 45 million people facing high consumer debt. The move, reminiscent of past populist measures by the Shinawatra family, has raised concerns of vote-buying and the government’s ability to address economic challenges. However, amidst rising debt levels, an aging population, declining education standards, and other pressing issues outlined by Paetongtarn in her policy speech, the country continues to grapple with political instability and paralysis stemming from a history of coups, royal influences, and entrenched power dynamics.

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