Teachers demand a moratorium to their debts to GSB for six months

About 450,000 teachers who are members of the funeral welfare fund for teachers have vowed to stop reimbursing the Government Savings Bank for debts they owe to the bank starting August 1.

In the meantime, the teachers' organization has demanded the government and the GSB to impose a moratorium on six-month debt moratorium starting October 1 for teachers for the loans they took from the GSB.

The debt moratorium and warning to stop paying debts to the GSB were mentioned in the so-called Maha Sarakham declaration made by the teachers' organization.

Mr Ouychai Watha, president of Teachers' Organization Network, said Monday that the declaration was a symbolic gesture of the teachers who are debtors to the GSB who have collectively taken out over 300 billion baht in loans from the bank.

He claimed that teachers' indebtedness was not caused by the teachers' inability to service their debts alone but also stemmed from the debt structure interest calculation.

Ouychai further said that the teachers' organization also raised the debt problem with Mr Tuang Inthachai, chairman of the education and sports committee of the National Legislative Assembly.

Source: Thai Public Broadcasting Service (ThaiPBS)