Tom Yum Shrimp Crisis

About 1,000 Bangkok Commercial Bank Restrictions employees rallied to protest in front of the Civil Service Administration, opposite Government House, on Oct. 26, 1998, demanding that the government be held accountable for employees laid off in accordance with the Financial Institutions System Restoration Measure (August 14 Measure), along with filing a letter to Finance Minister Tarin Nimmanmen.

This incident was part of the impact of the 1997 Asian economic crisis 💥, which resulted in many financial institutions being closed or restructured in accordance with government measures to restore the financial institution system.

The August 14 Measure, also known as the Financial Institutions Restoration Measures, was issued on August 14, 1998 by the Ministry of Finance and the Bank of Thailand to resolve debt problems and strengthen stability for financial institutions after the crisis, including enforcement of closing measures, privatization and debt restructuring in many banks and finance companies, causing many employees to be affected by layoffs. 💔

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# Shrimp crisis # MeasuresAugust 14