Bangkok: Thai News Agency MCOT has been honored with the prestigious "Puey Ungphaporn" Award for its in-depth analytical news article, "Debt Resolution Clinic: Creating New Opportunities for Salaried Employees."

According to Thai News Agency, MCOT claimed first prize in the 19th "Sharpening Thoughts" television media category for its work that delves into the significant issue of Thai household debt. The article not only highlights the pressing need for systemic solutions but also emphasizes the importance of financial discipline among the public to address the ongoing debt dilemma.

MCOT's award-winning piece underscores the agency's dedication to producing quality content that bridges economic policies with the lives of ordinary citizens, while also promoting financial literacy to foster resilience in Thai society. The news team behind this insightful work, Ms. Khanittha Amornmeswarin and Mr. Theerayut Suksaakorn, received the award from Mr. Witai Rattanagorn, Governor of the Bank of Thailand, at an event organized by the Economic Journalists Association.

The report provides a comprehensive analysis of Thailand's household debt levels amid a sluggish economic recovery. It narrates the struggles of a salaried employee burdened by credit card and informal debts, leading to defaults and legal challenges. The Debt Resolution Clinic, a program managed by Sukhumvit Asset Management and initiated by the Bank of Thailand in 2017, emerges as a turning point for participants, offering negotiated debt restructuring and reduced payments, ultimately allowing individuals to regain financial stability.

The narrative goes beyond individual success stories, shedding light on the structural challenges within the financial system. It compiles insights from various stakeholders, including affected individuals, implementing agencies, and regulatory bodies, to provide a holistic understanding of debt resolution options available to the public.

The Economic Journalists Association annually organizes the "Analytical News Article Contest" to enhance skills in economic news presentation and stimulate public interest in economic matters. The contest, supported by the Bank of Thailand and the Puey Ungphakorn Institute, is named the "Puey Ungphakorn Award" in tribute to Dr. Puey Ungphakorn, a revered economic scholar.