this already happened in the past . when the Thaksin government first came into power in 2001, one of its first policy platforms was to forgive farmer's debt. almost 2.8 million farmers participated in that scheme. At the time, the NPL ratio of the BAAC was not very high. This meant that farmers could find money to borrow short-term to repay the loan when the due date came and then simple re-borrowed the money from the BAAC again. However, the farmers become more and more indebted over time. this seems to be what is happening at present.