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Thailand Unveils $16 Billion Borrowing to Fund Covid Relief

  • King endorses fresh debt plan to be completed by Sept. 2022
  • Borrowing less than previously planned due to surplus funds
A pedestrian passes a food vendor at a deserted Khaosan Road in Bangkok, Thailand.
A pedestrian passes a food vendor at a deserted Khaosan Road in Bangkok, Thailand.Photographer: Andre Malerba/Bloomberg
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Thailand’s King Maha Vajiralongkorn endorsed a $16 billion borrowing plan to shield Southeast Asia’s second-largest economy from the impact of a raging coronavirus outbreak that’s threatening a nascent recovery and plans to reopen borders to tourists.