Thailand's planned issue of up to 100 billion baht ($3 billion) worth of government savings bonds has been delayed to late April due to political turmoil, a Finance Ministry official said on Monday. The six-year bonds, for refinancing loans borrowed for stimulus spending, had been scheduled to be offered between March 29 and April 2.
"The bonds have been delayed to late April for now because of the political chaos and long holidays," the official, who declined to be identified, told Reuters, adding the offer date was also near the Songkran holidays in mid-April. "If the situation is not getting worse, we should able to sell them then," the official said. One-year fixed deposits pay about 1 percent and savings rates are just 0.5 percent at major banks.