Thailand Delays Digital Money Handout as Critics Call for Probe

Delay in Launch

Thailand's planned digital wallet scheme, which aims to distribute 10,000 baht (~$274) to citizens over the age of 16, has been postponed. Critics are now calling for an investigation by the country's electoral commission.

More Time Needed for Development

The announcement of the delay was made by Thailand's deputy finance minister, Julapun Amornvivat, who cited the need for additional time to develop the system. Originally scheduled for a February 2024 launch, the digital wallet's release has been pushed back.

Stimulating the Local Economy

The Thai government's objective is to use the digital wallet to provide 10,000 baht to eligible citizens in an effort to boost the local economy. Amornvivat emphasized the importance of ensuring the security of the underlying system and confirmed that the launch will still take place in the first quarter of 2024.

Funding Concerns

Reports suggest that the sub-committee responsible for the program is currently deliberating over the source of funds for the scheme. The estimated cost of the digital wallet initiative, proposed by the Pheu Thai Party, is 548 billion baht ($15 billion).

Legal Questions Raised

Former Thai senator Rosana Tositrakul, a vocal skeptic of the project, has called on the election commission to investigate the legality of the proposed scheme. Questions surrounding the lack of funding and the potential need to raise debt to finance the initiative have prompted Tositrakul's concerns.