Papers Suggest Thai Finance Minister Korn As New IMF Head

[webfact]

Papers suggest Korn as IMF head

By The Nation

The editorial pages of both the Japan Times and the South China Morning Post yesterday named Finance Minister Korn Chatikavanij as a possible candidate to replace Dominique Strauss-Kahn as head of the International Monetary Fund (IMF) for "his deep understanding of financial markets".

Korn's name cropped up as the International Monetary Fund's executive board formally began the process of choosing a new leader.

The editorials emphasised that a candidate from outside Europe or the United States would be preferable and that the world needs an IMF boss who would be open to the realities of fiscal problems facing the world's major economies.

Moreover, it was mentioned that the position should not be limited to candidates exclusively from the US and the European Union, as there were many good personalities from Africa, Asia and Latin America. The other leaders from developing economies mentioned as possible candidates include Egyptian Mohamed El-Erian of the global investment management firm Pimco, India's Montek Singh Ahluwalia and Singapore's Tharman Shanmugaratnam.

-- The Nation 2011-05-23

[jackr]

Moreover, it was mentioned that the position should not be limited to candidates exclusively from the US and the European Union, as there were many good personalities from Africa, Asia and Latin America

No, it perhaps shouldn't be limited to Euro, US, more that the person is fit for the job wherever they're from and not from Asia because the Asians somehow deserve a shot.

[dunkin2012]

some kickback?

Dunno how good is Korn!!!!

nice to see some of 'em from those developing countries.... not only from EU

[tomyummer]

Great for Korn and Thailand should he win the post, but for the good of the world, go for the Singaporean.

[homeslice]

Ditto, go for the Singaporean.

[virtualtraveller]

It's a nice compliment for our present Finance minister. And the opposition keep telling us the present government isn't very economically competent

[timekeeper]

Korn was voted Asian Banker of the Year by his peers

the other candidates included the Singaporean

Korn is a credit to Thailand

he could be earning millions of dollars a year in Singapore but his sticks with Thailand on meagre wages and is constantly under threat and critique from the reds

they have no appreciation of the major financial talent they have at their disposal

if i were him i would tell the ungrateful b***ds to p**s off and leave to less hostile shores post haste........

[Pib]

It's like a beauty contest. Many contestants get their name mentioned during the pageant and it makes them and their nation feed proud, but only a few will be serious contenders.

[PlanetX]

I dont know if being head of the IMF is a compliment

The IMF doesnt exactly have a very good record in terms of helping developing countries with "manageable" loan parameters

[geriatrickid]

Moreover, it was mentioned that the position should not be limited to candidates exclusively from the US and the European Union, as there were many good personalities from Africa, Asia and Latin America

No, it perhaps shouldn't be limited to Euro, US, more that the person is fit for the job wherever they're from and not from Asia because the Asians somehow deserve a shot.

The people that fund the IMF are not going to turn over the organization to anyone from the developing world. Not now. The IMF is heavily involved in Latin & South America and the EU now and there is no way someone not attentive to their needs will be selected. Does Minister Korn even know where Portugal or Spain is? Has he ever been to Latin America? Mr. Korn may be a big fish in his region, but he is an insignificant player in the big leagues of international finance.

Edited May 23, 2011 by geriatrickid

[Ricardo]

I dont know if being head of the IMF is a compliment

The IMF doesnt exactly have a very good record in terms of helping developing countries with "manageable" loan parameters

So perhaps the IMF needs a new head, with a better understanding of these things, to improve their performance ?

But, being parochial for a moment, can Thailand afford to spare him ?

[jayboy]

Korn was voted Asian Banker of the Year by his peers

the other candidates included the Singaporean

Korn is a credit to Thailand

he could be earning millions of dollars a year in Singapore but his sticks with Thailand on meagre wages and is constantly under threat and critique from the reds

they have no appreciation of the major financial talent they have at their disposal

if i were him i would tell the ungrateful b***ds to p**s off and leave to less hostile shores post haste........

If you seriously think Korn is on "meagre wages", you have no understanding of his business career background or family history.Of course his salary as FM is modest but he is a multi millionaire , a position which he freely admits allowed him to enter politics in the first place.It's an approach I rather admire, achieve something in life before taking up politics.

You are wrong too to suggest Korn is a particular target for the parliamentary opposition or the redshirts.He is seen as a technocrat and has largely escaped the personal attacks that Abhisit and Suthep have attracted.

Korn posseses the polish and charm which is associated with his patrician upbringing and his Winchester and Oxford education.He has excellent manners recalling the Wykehamist motto "Manners Makyth Man".It seems to me therefore unlikely he would call anyone "ungrateful b***ds" or any similar language that you are no doubt familiar with, not least because most fair minded people across party lines feel he is doing rather a good job.

[timekeeper]

Moreover, it was mentioned that the position should not be limited to candidates exclusively from the US and the European Union, as there were many good personalities from Africa, Asia and Latin America

No, it perhaps shouldn't be limited to Euro, US, more that the person is fit for the job wherever they're from and not from Asia because the Asians somehow deserve a shot.

The people that fund the IMF are not going to turn over the organization to anyone from the developing world. Not now. The IMF is heavily involved in Latin & South America and the EU now and there is no way someone not attentive to their needs will be selected. Does Minister Korn even know where Portugal or Spain is? Has he ever been to Latin America? Mr. Korn may be a big fish in his region, but he is an insignificant player in the big leagues of international finance.

whoever heard of the french guy until he tried to rape someone?

Korn is an ex investment banker for J P Morgan

so he actually worked for a living before politics came knocking

do you think J P Morgan would employ an investment banker that did not know where Portugal or Spain is?

do you think they though it neccesary to go to latin america to qualify for the the job?

no they did not and neither will the IMF

i am sure they value financial talent above geography.........

[JurgenG]

The last time a Thai was the head of an international body, Supachai Panitchpakdi, WTO, it was a complete disaster. Thais say foreigners don't understand Thailand, maybe it's Thais who don't understand the rest of the world.

Anyway he is the only credible alternative to Thaksin. A french colleague of mine has this (conspiration) theory : Thaksin is trying to get rid of Korn the same way the french president Sarkozi got rid of D Strauss-Kahn. It's definitively safer for Korn to stay in Thailand

Edited May 23, 2011 by JurgenG

[powderpuff]

I will only believe it when I read it on wikileaks.

[animatic]

It's a nice compliment for our present Finance minister. And the opposition keep telling us the present government isn't very economically competent

Agreed.

Doing something positive and productive starting in a very bad place you inherited,

is a lot harder than milking credit for inheriting a improving financial picture and not killing it off in record time.

Korn knows his job, he would never have been mentioned, someone pushing for Asia or not.

[timekeeper]

Korn was voted Asian Banker of the Year by his peers

the other candidates included the Singaporean

Korn is a credit to Thailand

he could be earning millions of dollars a year in Singapore but his sticks with Thailand on meagre wages and is constantly under threat and critique from the reds

they have no appreciation of the major financial talent they have at their disposal

if i were him i would tell the ungrateful b***ds to p**s off and leave to less hostile shores post haste........

If you seriously think Korn is on "meagre wages", you have no understanding of his business career background or family history.Of course his salary as FM is modest but he is a multi millionaire , a position which he freely admits allowed him to enter politics in the first place.It's an approach I rather admire, achieve something in life before taking up politics.

You are wrong too to suggest Korn is a particular target for the parliamentary opposition or the redshirts.He is seen as a technocrat and has largely escaped the personal attacks that Abhisit and Suthep have attracted.

Korn posseses the polish and charm which is associated with his patrician upbringing and his Winchester and Oxford education.He has excellent manners recalling the Wykehamist motto "Manners Makyth Man".It seems to me therefore unlikely he would call anyone "ungrateful b***ds" or any similar language that you are no doubt familiar with, not least because most fair minded people across party lines feel he is doing rather a good job.

meagre/ modest, sheer pedantics on your part, driven only by your desire to create argument with me because your ego is still bruised at being admonished by the mods at my behest for trying to be a mod

reds frequently criticize the Thai economy, is this not a criticism of Korn as Thai finance minister?

if you actually read my post instead of jumping in with your two left feet, i said if i were him , so any references to Korns upbringing, education, politeness, propensity to not use profanities etc is a very moot point indeed, as i am not him.

i know its early but try to keep up...

[dananderson]

While it is interesting and a compliment that reigonal emerging markets are included in the talks about possible replacements for the top spot at the IMF it's a bit premature to suggest that those mentioned are frontrunners for the position. Currently, France's finance minister Legarde is the most viable candidate, followed by either a German or a Brit.

Edited May 23, 2011 by dananderson

[Dellboy218]

While it is interesting and a compliment that reigonal emerging markets are included in the talks about possible replacements for the top spot at the IMF it's a bit premature to suggest that those mentioned are frontrunners for the position. Currently, France's finance minister Legarde is the most viable candidate, followed by either a German or a Brit.

Not Gormless Gordon, anyone but him. The mans a menace!

[jayboy]

meagre/ modest, sheer pedantics on your part

I think most reasonable people would agree your assertion that Korn is on meagre wages and the reality that he is a multi millionaire is rather more than pedantics.

[timekeeper]

meagre/ modest, sheer pedantics on your part

I think most reasonable people would agree your assertion that Korn is on meagre wages and the reality that he is a multi millionaire is rather more than pedantics.

i said WAGES for being finance minister

WAGES from the government and his millionaire financial status are not connected

again try to keep up........

[samurai]

It's a nice compliment for our present Finance minister. And the opposition keep telling us the present government isn't very economically competent

Yes a nice compliment for Korn, but you you should also read what the South China Morning Post thinks about PM Abhisit.

[Bakseedaa]

Great for Korn and Thailand should he win the post, but for the good of the world, go for the Singaporean.

And what do you know about the Singaporean guy, did you know that Singapore is one of the most corrupt governments in the world... Singapore`s banking system runs on dirty moneys.. nearly all of the Burmese Junta`s cash is invested through Singapore, and Singapore is the world hub for Heroin, and always has been..

[slapout]

Great for Korn and Thailand should he win the post, but for the good of the world, go for the Singaporean.

And what do you know about the Singaporean guy, did you know that Singapore is one of the most corrupt governments in the world... Singapore`s banking system runs on dirty moneys.. nearly all of the Burmese Junta`s cash is invested through Singapore, and Singapore is the world hub for Heroin, and always has been..

Define "one of the most". In the top 50 of corrupt countries or the bottom 50? I have no doubt that every country of the world has corruption to some degree. No on really knows the real numbers, but I would be surprised if present day Singapore would fall within the boundaries of your description as per accepted rankings.

[samurai]

The editorial pages of both the Japan Times and the South China Morning Post yesterday named Finance Minister Korn Chatikavanij as a possible candidate to replace Dominique Strauss-Kahn as head of the International Monetary Fund (IMF) for "his deep understanding of financial markets".

Time to read these opinion articles of the Japan Times and SCMP, right?

http://www.scmp.com/portal/site/SCMP/menuitem.2c913216495213d5df646910cba0a0a0/?vgnextoid=c11f5b7062d00310VgnVCM100000360a0a0aRCRD&vgnextfmt=teaser&ss=Columns+%26+Insight&s=Opinion

http://search.japantimes.co.jp/cgi-bin/eo20110519a2.html

In case you cannot find the reference to Korn, because Korn isn't the only one suggested as the next IMF Head in these editorials, his name is shortly mentioned in one of the last paragraphs.

"Asia has two finance ministers with deep understanding of financial markets: Tharman Shanmugaratnam gained his through being managing director of the Monetary Authority of Singapore, and British-born and Winchester and Oxford-educated Korn Chatikavanij of Thailand was previously head of J.P. Morgan in that country."

That's all. Still good for a big headline in The Nation.

[Thaddeus]

Can I just chip in with a little comment before it goes nuclear.

I am very much an adult and quite well educated, but my interest in the financial sector is limited to the exchange rate today and the base interest rate in the UK.

Until his name appeared in the headlines the other day, I had no idea who the French bloke was, and I suspect the same would be true for a large number of people.

[webfact]

Thailand Supports Singaporean Finance Minister as New IMF Chief

The finance minister says he supports the candidacy of his Singaporean counterpart as the new IMF chief as it will increase Asia’s role on the global stage.

Finance Minister Korn Chatikavanij said Asian countries will nominate candidates for the vacant managing director position of the International Monetary Fund, or IMF.

Former IMF chief, Dominique Strauss-Kahn, has stepped down after his arrest in New York on charges of sexual assault of a chambermaid at a hotel there.

Korn said the structure of the global economy has changed and the Asian economy has emerged as a frontrunner in pushing forth global economic growth.

He believes it is now time to change the traditional mindset that the person in the IMF top job position must come from Europe and the head of the World Bank must be an American.

He said he has told some of his western counterparts that the Singaporean finance minister is suitable for the job as he is talented and able.

The IMF’s board of directors is in the process of selecting a new managing director under a process that is open and transparent.

Suitable candidates can be nominated from now until June 10.

The selection process will be a majority vote that will be conducted by June 30.

-- Tan Network 2011-05-23

[jayboy]

The editorial pages of both the Japan Times and the South China Morning Post yesterday named Finance Minister Korn Chatikavanij as a possible candidate to replace Dominique Strauss-Kahn as head of the International Monetary Fund (IMF) for "his deep understanding of financial markets".

Time to read these opinion articles of the Japan Times and SCMP, right?

http://www.scmp.com/portal/site/SCMP/menuitem.2c913216495213d5df646910cba0a0a0/?vgnextoid=c11f5b7062d00310VgnVCM100000360a0a0aRCRD&vgnextfmt=teaser&ss=Columns+%26+Insight&s=Opinion

http://search.japantimes.co.jp/cgi-bin/eo20110519a2.html

In case you cannot find the reference to Korn, because Korn isn't the only one suggested as the next IMF Head in these editorials, his name is shortly mentioned in one of the last paragraphs.

"Asia has two finance ministers with deep understanding of financial markets: Tharman Shanmugaratnam gained his through being managing director of the Monetary Authority of Singapore, and British-born and Winchester and Oxford-educated Korn Chatikavanij of Thailand was previously head of J.P. Morgan in that country."

That's all. Still good for a big headline in The Nation.

Interesting, and on checking I see that the articles in the Japan Times and South China Morning Post are identical and written as an independent opinion by an expatriate journalist, not a mainline editorial at all.Yet the Nation has puffed this up to suggest regional opinion is moving behind Korn.Looks rather shoddy journalism to me.

Edited May 23, 2011 by jayboy

[IMA_FARANG]

I have my own personal opinion about the IMF...I regard it as simply a Rich Man's Club whose main purpse is to mantain the domination of the monied elite in those countries it "helps".

That's why the most important question the IMF always wants settled before it will "loan" money to a country is how the loan will be repayed...at a profit..to them.

But I'm not dogmatic about it.

Anyhow, since I regard all of them as little better than wealthy crooks, I really don't care who or what nationality the head of the IMF is.

P.S. The idea of a naked old man chasing that maid who wanted to clean his room down the hallway in a hotel is hilarious.

[JurgenG]

It's a nice compliment for our present Finance minister. And the opposition keep telling us the present government isn't very economically competent

Yes a nice compliment for Korn, but you you should also read what the South China Morning Post thinks about PM Abhisit.

What do they think ? The online edition is for subscriber only ....