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Finance Ministry: Ousted Thai PM's Rice Scheme Lost $15.8 Billion

A rice-subsidy scheme introduced by Thailand's ousted former Prime Minister Yingluck Shinawatra lost 518 billion baht ($15.8 billion), the Finance Ministry said on Thursday. The scheme, which paid farmers above-market rates for their crop, helped bring Yingluck to power in a landslide election in 2011 due to support from farmers, mostly in the country's north and northeast. However, the scheme backfired when the government failed to sell rice to pay arrears to angry farmers,...

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