KOBE -- The Thai government should encourage Thailand's private sector to forward financial reform rather than create a national corporation to help banks out of the mire of massive bad loans, Thai Finance Minister Tarrin Nimmanahaeminda said Saturday.
Although the government has been promoting a plan for a national corporation to purchase and dispose of banks' nonperforming loans, Tarrin said he himself opposes the idea.
"The (judicial) framework (for processing nonperforming loans) is there," he told The Japan Times on the sidelines of the Asia-Europe Meeting of finance ministers here. "What remains is for the creditors and debtors to work out (the nonperforming loans) more vigorously."