Changing Guard: Bank of Thailand Begins Search for Next Governor

[webfact]

Picture courtesy of thansettakij

 

Thailand is on the hunt for a new Bank of Thailand governor as Sethaput Suthiwartnarueput’s term finishes on 30th September.

 

The Ministry of Finance has called a selection committee, led by Sathit Limpongpan, to spearhead the process. Mr. Sethaput, aged out by reaching 60, will finish his significant term after a dynamic few years since 2020.

 

The committee is tasked with choosing two candidates for the finance minister's final decision, with names like Roong Mallikamas, Sutapa Amornvivat, Santitarn Sathirathai, and Ekniti Nitithanprapas being floated around.

 

Thai law obliges this selection process to include these candidates 90 days prior to the current term’s expiry. A meeting is expected shortly to hash out the candidate requirements and set the application timeline.

 

Governor Sethaput’s time in office saw clashing views on economic strategies. He faced heat from the government, persistently arguing against interest rate cuts pushed by the Pheu Thai-led administration, which aimed to boost an economy seen as sluggish.

 

 

 

Moreover, he publicly criticised the Pheu Thai's "digital wallet" initiative, a potential 450 billion baht cash distribution that hardly seemed digital.

 

Sethaput has advocated for transformative reforms necessary to ensure Thailand's economic competitiveness, simultaneously stressing the independence central banks must maintain from political sets.

 

This stance became more evident after political moves attempted to elevate former Pheu Thai minister, Kittiratt Na-Ranong, to a leading bank role. This political shuffle was halted when a court deemed Mr. Kittiratt ineligible due to recent political ties.

 

The baton now passes on, with the selection of a new governor likely hinting at the direction Thailand's financial stewards might steer. The cabinet’s decision on philosopher Somchai Sujjapongse shows that stability might be retained while ensuring the central bank’s independence from political influence.

 

Based on a story by Bangkok Post

 

-- 2025-04-18

 

 

[JoePai]

Just checked and I'll be free on the 30th September  😎

[Tropicalevo]

Sad to see Governor Sethaput leave.

He stood up against the government and did what was right for Thailand.

Please, please let the next governor be another person who understands world economics and finance and not just another trough-feeding sycophant.

[Purdey]

I admire Sethaput for being humble and independent. Took a course with him many years ago and he started off by saying, "You may not become an economist after this, but you will be able to read the Bangkok Post business section." 😆

[hotchilli]

7 hours ago, webfact said:

Thailand is on the hunt for a new Bank of Thailand governor as Sethaput Suthiwartnarueput’s term finishes on 30th September.

Thailand on the hunt or Thaksin ?

[Espanol]

A new governor, probably means a cheaper baht, as the government wants.