New Finance Minister

[Japhrodisiac]

So...

Cabinet reshuffle official; Chalongphob gets finance

(BangkokPost.com)

His Majesty the King on Wednesday approved the new cabinet, including the appointment of Chalongphob Sussangkarn as new finance minister and Paiboon Wattanasiritham as deputy prime minister overseeing social affairs.

Government spokesman Yongyuth Mayalarp announced the new lineup, calling it a "complete reshuffle". In fact, few ministers were affected, and none appeared to have been dismissed.

There are two other new faces in addition to Mr Chalongphob, whose appointment was expected.

They include Poldej Pinprateep, the deputy social development and human security minister, and Morakot Kornkasem, deputy public health minister.

Dr Poldej is former social development and human security secretary while Dr Morakot is an advisor to Public Health Minister Mongkol na Songkhla before the royal approval.

Neither ministry had a deputy minister before the appointments.

Mr Chalongphob, a former World Bank economist, replaces M.R. Pridiyathorn who resigned from the cabinet last week.

Mr Paiboon, currently Social Development and Human Security Minister, is appointed to a second post in the cabinet, to help Gen Surayud to oversee social affairs."

Some good news finally, or more of the same?

[bingobongo]

apparantly SET investors were not impressed....

"The market barely reacted to appointment of a new finance minister since investors would have preferred a more pro-market minister than the academically oriented choice of Chalongphob Sussangkarn."

Thai Shares Fall After Foreign Selling

http://www.forbes.com/feeds/ap/2007/03/07/ap3492573.html

[cclub75]

What are his views ?

It's frustrating to see that Nation and Bangkok Post don't present his background, what he did etc.

He seems to be a pure academic...

I found this on the net :

Chalongphob Sussangkarn

Dr. Chalongphob Sussangkarn is the President of the Thailand Development Research Institute (TDRI), a private non-profit policy research institute based in Bangkok. He obtained his Bachelor's degree though Ph.D. in economics from Cambridge University, UK. He taught in the Department of Economics of the University of California, Berkeley (1977-79). Then he joined the World Bank, Washington D.C. (1979-1985). He returned to Thailand to join TDRI in 1985 and was appointed the President of TDRI in 1996. Dr. Chalongphob is a member of the Executive Board of the Economic Society of Thailand and is on the advisory panel of a number of journals, such as the Asia-Pacific Development Journal (published by ESCAP, Bangkok), and the Asian Development Review (ADB, Manila). He is currently the regional coordinator of the East Asian Development Network (EADN). His current research interests include international economics, macroeconomic policy, economic and econometric modeling, and poverty and income distribution.

And this article (end of december) where he speaks about capital control and BOT.

http://news.xinhuanet.com/english/2006-12/...ent_5543955.htm

He was advocating for a broader control, but with no time frame (1 year), and with a much lower reserve (2 %).

[quiksilva]

I heard from people who know him, that he is a free market advocate and has criticised both capital controls and recent proposed revisions to the FBA.

Most I have spoken too were happy with the appointment. These were the same people who literally lept for joy at Pridyathorn's departure.

[Old Man River]

Most I have spoken too were happy with the appointment. These were the same people who literally lept for joy at Pridyathorn's departure.

I would word the above differently. Many were unhappy to see Pridiyathorn resign (he has been a strong financial leader in Thailand for many, many years), but now that he has resigned and that chapter is over, we are elated that the PM has chosen Chalongphob as the new FM.