Likely Bank of Thailand chairman thanks both supporters and critics
While his appointment has yet to be officially confirmed, Finance Ministry is confident Kittirat Na-Ranong will be installed soon
Former finance minister Kittirat Na-Ranong on Tuesday used Facebook to thank both those who have expressed support and criticised him following reports that he has been named chairman of the Bank of Thailand’s (BOT) board of directors.
“Every supportive voice is encouragement, and every critical voice is a reminder to think well, speak well, and act well,” Kittirat wrote.
Kittirat’s reaction came the day after Finance Ministry permanent secretary Sathit Limpongphan, who chairs the BOT’s selection committee, announced on Monday that the panel has finalised the selection of the candidate to replace Poramethi Vimolsiri, whose term expired at the end of September.
Although Sathit did not unveil the name of the selected candidate, a source familiar with the matter said Kittirat was nominated for the post of board chairman.
According to the source, the committee also named two new specialist board members to replace those whose terms expired. The new specialist members are Pongpanu Svetarundra, former Tourism and Sports Ministry permanent secretary, and Chunhajit Sangmai, former Finance Ministry deputy permanent secretary.
Sathit said the panel would forward its decision to the Finance Minister by next Tuesday (November 19), who will subsequently propose the appointment to the Cabinet. The new chairman must first get Cabinet approval and be appointed by His Majesty the King before the name can be announced, he added.
Kittirat’s candidacy for the post of BOT board chairman has been heavily criticised due to his close ties with the ruling Pheu Thai Party and past role as adviser to former prime minister Srettha Thavisin.
Analysts fear his appointment will result in government interference in the central bank, potentially eroding investor confidence in the bank’s independence from political influence.
Among the groups voicing opposition to Kittirat’s appointment is the “Economists for Society”, comprising 830 economists, including four former BOT governors – Pridiyathorn Devakula, Tarisa Watanagase, Prasarn Trairatvorakul, and Veerathai Santiprabhob.
Critics have reportedly gathered over 50,000 signatures protesting the move, on the grounds it will erode the BOT’s independence from short-term political policies.
