Thailand short-lists two candidates for post of central bank governor

By Kitiphong Thaichareon and Orathai Sriring

 

FILE PHOTO: Thailand's central bank is seen at the Bank of Thailand in Bangkok, Thailand April 26, 2016. REUTERS/Jorge Silva

 

BANGKOK (Reuters) - Thailand has short-listed two candidates out of group of six seeking to be the next central bank governor to steer Southeast Asia's second-largest economy through the coronavirus crisis, the head of the selection committee said on Tuesday.

 

The new governor will face a tough task of reviving an economy which the Bank of Thailand predicts will shrink by a record 8.1% this year, and with policy rates near zero and high household debt.

 

Committee head Rangson Sriworasat did not name the selected candidates but told reporters one was an "insider", referring to a central banker, and the other an "outsider", or a non-central banker.

 

BOT Governor Veerathai Santiprabhob's five-year term ends in September and Deputy Finance Minister Santi Promphat will now choose one of the two candidates to replace him.

 

Santi is running the ministry after Finance Minister Uttama Savanayana resigned last week.

 

According to media reports, Sethaput Suthiwart-Narueput, a former World Bank economist and an economic adviser to Prime Minister Prayuth Chan-ocha is leading the race to be governor.

 

Sethaput sits on the central bank's Monetary Policy Committee and holds a PhD in economics from Yale University.

 

Deputy central bank governor Mathee Supapongse is also expected to be on the shortlist. He has worked at the BOT for more than three decades and is in charge of supervising monetary stability and is also a Monetary Policy Committee member.

 

Another deputy central bank governor, Ronadol Numnonda, and Anusorn Tamajai, head of the economic research centre of Rangsit University, also presented their visions on Tuesday. Two others did not appear for the final round of interviews.

 

The appointment also needs cabinet and royal approval.

 

"Finally, the prime minister will decide who will be the new central bank governor as the cabinet will have to approve it," Rangson said after interviewing four candidates.

 

-- © Copyright Reuters 2020-07-21

 

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The poisoned chalice. I hope not, but I fear it will be. Anyway, belts and braces, have money coming in from outside and a bit of a cushion in-country. Mostly, it's this difficulty leaving and comimg back that worries me - ten years in Thailand and never felt the need to go home, a bit like the beach at Brighton, good to know it's there.

Let’s hope the next governor has independence, and will focus on how to revive the sinking economy.  Short term free money schemes don’t do enough.

Edited July 22, 20205 yr by Isaan sailor

2 hours ago, Isaan sailor said:

Let’s hope the next governor has independence, and will focus on how to revive the sinking economy.  Short term free money schemes don’t do enough.

But with government interference that's all that seems to happen... no forward thinking strategy just short term remedial actions.

22 hours ago, snoop1130 said:

Thailand short-lists two candidates

Surely there is an ex General who can do this after all Thai military training appears to be the best in the world at preparing them for government roles, surely this is no different...