Bangkok: Dr. Thaksin Shinawatra, former Prime Minister of Thailand, has expressed his support for the integration of digital currency into the national economy as a means to stimulate growth and suggested the establishment of an Asset Management Corporation (AMC) to address personal debt issues.

According to Thai News Agency, Dr. Thaksin delivered his remarks during a seminar titled "Unlocking Thailand's Future...Fighting the Global Crisis," organized by MCOT. He emphasized the current government's initiative to issue G-Token as insufficient, proposing that collaboration with the Bank of Thailand (BOT) is essential to expand digital currency trials beyond Phuket to larger provinces. He highlighted the potential of using cryptocurrencies like Bitcoin and Ethereum for transactions, which could enhance economic circulation without the need to print new baht. The government, he noted, could benefit from value-added tax (VAT) revenues generated through such digital transactions.

Dr. Thaksin also recommended the creation of an AMC to manage non-performing loans (NPLs), drawing from his experience in establishing the Thai Asset Management Corporation (TAMC) during the 1997 economic crisis. He argued that post-COVID-19, Thailand faces significant debt challenges, and an AMC could effectively consolidate and manage these debts, thereby facilitating economic recovery for debtors.

Additionally, Dr. Thaksin touched upon the appointment of a new Bank of Thailand governor, citing issues with the verification of qualifications. This matter, he suggested, should be referred to the Anti-Money Laundering Office and the National Anti-Corruption Commission. He mentioned that Dr. Prommin Lertsuridej, Secretary-General to the Prime Minister, should be consulted, with the Cabinet expected to review the matter in the coming week.