Thailand to create asset firm to tackle soaring household debt

Tourists take pictures at Wat Arun Buddhist temple in Bangkok - AFP

BANGKOK: Thailand will establish an asset management firm in the first quarter of this year to help resolve its stubborn problem of high household debt, the prime minister says.

Household debt management had many challenges as some creditors refused to enter the process, Srettha Thavisin told a press briefing on debt on Monday.