Thailand hunts for new finance minister to tackle economy in crisis

By Orathai Sriring

 

FILE PHOTO: Thailand's Prime Minister Prayuth Chan-ocha reacts while taking questions from journalists after the group photo session with new government cabinet in Bangkok, Thailand July 16, 2019. REUTERS/Soe Zeya Tun

 

BANGKOK (Reuters) - After its finance minister's surprise exit, Thailand is looking for a new chief to steer its economy through the coronavirus crisis, with the outgoing central bank boss being linked to the job and a deputy minister throwing his hat into the ring.

 

Banker Predee Daochai quit as finance minister on Tuesday after only a few weeks, as the government struggles to pull Southeast Asia's second-biggest economy out of an outbreak-induced slump.

 

Prime Minister Prayuth Chan-ocha wants to fill the post at an appropriate time, but investors want a quick and suitable appointment for policy continuity and to build confidence.

 

Deputy Finance Minister Santi Promphat, a former transport minister who has worked in three different administrations, said he is "ready to work for the country" and can hit the ground running.

 

"I have the expertise and ability to handle the pressure of the current economic situation," he told reporters soon after Predee quit.

 

"In such a crisis, I can start work immediately".

 

Santi is director of the ruling Palang Pracharat Party and served in the Yingluck Shinawatra administration, which was overthrown in a 2014 coup led by Prayuth.

 

Candidates for the next finance minister include Pailin Chuchottaworn, a former CEO of top energy firm PTT <PTT.BK>, and outgoing central bank governor Veerathai Santiprabhob, according to media reports.

 

Pailin is responsible for implementing stimulus plans as the head of one of two committees under a special government task force for reviving the economy, which is seen shrinking a record 8.5% this year.

 

Veerathai is also a committee member under that task force and his term as central bank chief ends on Sept. 30.

 

However, on Aug. 28, Veerathai told Reuters he planned to do academic work, help charities and serve on some companies' boards.

 

"I'm not looking for any full-time job... but I will continue to be a macro economist for sure," he said in the interview.

 

Asked about politics, Veerathai said: "Definitely not".

 

(Reporting by Orathai Sriring; Editing by Martin Petty)

 

-- © Copyright Reuters 2020-09-07

 

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Stop pretending its your choice Prayuth. Just get it over with and do what Prawit tells you.

So where is all those stimulus package squillions?

 

38 minutes ago, webfact said:

Deputy Finance Minister Santi Promphat, a former transport minister who has worked in three different administrations, said he is "ready to work for the country" and can hit the ground running.

hands up anyone who would like the job?

 

ok, hands up anyone but Santi who would like the job?

 

????

Maybe they should ask for some hunting tips from the Italian-Thai boss. The prey will not come willingly, unless it's got mental problems.

Oooooooooo  I know !!

 

Doesn't matter, Thailand doesn't need one as Thailand not same, same rest of the world and they have many highly trained Generals who have managed to squirrel away a small fortune from their meagre wages through their outstanding financial acumen....

A hunt? Why?

 

Have all potential candidates done a runner abroad to escape embezzlement, negligence, corruption or even manslaughter charges, perhaps?

 

Go ask the convicted drug trafficker that the government is currently hosting so happily as a deputy minister. Maybe he's willing to change portfolios.

It will be Santi Promphat. Here you can read why:

 

https://www.thaienquirer.com/17870/opinion-we-cant-really-blame-predee-no-one-wants-to-work-with-prawit/

 

Read this article, read it slowly, and savour it like a glass of good wine!!! 

I would have thought if Anutin and thus the Bhumjaitai Party were happy then it would have been a shoe-in. As I have said before I think Prayuth is no longer in control.

"Banker Predee Daochai quit as finance minister on Tuesday after only a few weeks"

 

translation--after he saw how the sausage was being made, and realized what a sh.it-show he had gotten himself into he bailed ASAP

Edited September 7, 20205 yr by poskat

He's 'Pondering'; he does it a lot.   He's thinking Hmmmm; now which one of my Family hasn't got a highly paid Government job at the moment ?

5 hours ago, PatOngo said:

So where is all those stimulus package squillions?

 

He's doing his impression of Mini Me

"Well I will just sit down at my new desk and take a quick look at real books. Holy sh*t! I'm out of here."

4 hours ago, trucking said:

Oooooooooo  I know !!

 

 

       A Football team  to mind .

         Give us a clue. ?

9 minutes ago, ramrod711 said:

He's doing his impression of Mini Me

That not going to work!  He is 3 inches to tall.  ????

42 minutes ago, trainman34014 said:

He's 'Pondering'; he does it a lot.   He's thinking Hmmmm; now which one of my Family hasn't got a highly paid Government job at the moment ?

 

 However that said .

  There is a job opportunity for a Nuclear physics Engineer ..

 

Edited September 7, 20205 yr by elliss

"Prime Minister Prayuth Chan-ocha wants to fill the post at an appropriate time"  Well, if he thinks he can handle the job of PM, defence minister and finance minister he should have a go at it.  Maybe that's his hidden talent! ????

I thought the philosophy was if you take something out, you must put something back. The lack of the latter is proving a problem in securing a new minister.

David Copperfield and Dynamo have both refused and were seen rolling on the floor laughing, saying the impossible they do straight away but miracles take much, much longer 

5 hours ago, webfact said:

 

 

I think we should be careful here and reflect that instead of pondering he might just be about to pick his nose.

Ability to carry the can a must ????

1 hour ago, elliss said:

 

 However that said .

  There is a job opportunity for a Nuclear physics Engineer ..

 

Not to mention Submarine Captain's !

Let them meaning Prawit and Prayut do it themselves. No one wants to work with these military Elite egotistical clowns and be puppeteered. Despicable at best. Hate to say it, but Thaksin is a five stories above them on running a country, and I don't like him.

17 hours ago, webfact said:

Deputy Finance Minister Santi Promphat, a former transport minister who has worked in three different administrations, said he is "ready to work for the country"

...????

Khun Prayut will select the appropriate candidate when he is good and ready. 

I suspect it may be Veerathai Santiprabhob.

19 hours ago, webfact said:

Deputy Finance Minister Santi Promphat, a former transport minister who has worked in three different administrations, said he is "ready to work for the country" and can hit the ground running.

A Jack-of-all-trades master of none, as for running he might need to keep that skill handy.

2 hours ago, steven100 said:

Khun Prayut will select the appropriate candidate when he is good and ready. 

I suspect it may be Veerathai Santiprabhob.

He will pick when he's good and ready (or Prawit will). And to hell with the people and the economy!

2 hours ago, steven100 said:

Khun Prayut will select the appropriate candidate when he is good and ready. 

I suspect it may be Veerathai Santiprabhob.

 

Didn't he already select the appropriate candidate? How did that go for him?

They’ll never admit this, and they may not even know this—but having no replacement for the finance minister will actually help Thailand.  International currency traders and speculators will continue to shun the overvalued Thai Baht.  And when and if the Baht slides 5-10%—the exporters will flourish again.  Expats will tour again in greater numbers.  And when Wuhan-19 finally runs its course—international tourists will return to LoS.

i am sure one of the Generals with the fancy ranks could step in, they will have similar education to the unelected "PM" at their military academy.