830 economists sign appeal against political interference in BOT
Four ex-governors in the group calling for caution in appointing the board chairman on Monday
The so-called “Economists for Society” group announced on Saturday it had gathered 830 signatures to appeal against the selection of a person with political connections as the next chairman of the Bank of Thailand’s board of directors.
As of Saturday, the group said that 830 economists, including four former BOT governors, had signed its appeal to the selection committee to be careful in selecting the next BOT board chairman so that politicians in power could not interfere in the monetary policies of the central bank.
The selection of the BOT board chairman has been postponed twice – on October 8 and November 4. The committee is meeting on Monday (November 11).
The group voiced concern particularly about the nomination of former finance minister Kittirat Na-Ranong as he is close to the ruling Pheu Thai Party, having held several key posts in the party in the past.
On November 5, Deputy Prime Minister Phumtham Wechayachai insisted that Kittirat was qualified for the post of BOT board chairman.
On Saturday, the group of economists reiterated that if the BOT allowed itself to be under the influence of the government, its credibility would be affected and it would be unable to maintain long-term economic stability.
The group said it was not against Kittirat in particular, but it was campaigning on the principle that anyone with close ties to politicians in power should not be made a chairman of the BOT board.
The group noted that if the BOT chairman, who is close to the government, is very capable, he might use his capacity and skills to allow interference and domination by the government.
