BOT postpones appointment of new board chairperson
Former BOT governor warns selection committee that choosing the wrong candidate could spell disaster for the bank’s independence
The Bank of Thailand (BOT)’s selection committee for board chairperson met on Tuesday but failed to appoint a replacement for current chairman Poramethi Vimolsiri, whose term expired at the end of September.
The committee is expected to reschedule the meeting on this matter in November, a news source told The Nation.
It quoted committee secretary Wirekha Santapan as saying that the committee needed more time to thoroughly check the qualifications of the nominated candidates.
The source said there are a total of nine candidates for the board chairperson post, six of them nominated by the Finance Ministry, and three by the BOT.
Among the most controversial candidates are Kittiratt Na-Ranong, former Finance Minister in the Yingluck Shinawatra administration, who also served as chief adviser to former prime minister Srettha Thavisin.
Although not currently holding a political position, Kittiratt was criticised for his close relationship with the Pheu Thai-led government.
Analysts feared that his accession to BOT board chairman could result in government interference in the central bank, potentially eroding investor confidence in the bank’s independence from political influence.
Former BOT governor Tarisa Watanagase on Tuesday cautioned the BOT’s selection committee that the wrong choice of chairperson could lead to intervention by politicians and eventual economic catastrophe.
Tarisa’s intervention comes following months of pressure from the Pheu Thai-led government for the BOT to cut its policy interest rate.
She warned that the BOT board chairperson could become a government tool, impacting foreign investors’ confidence in the country’s economic system.
She said that the selection panel should not appoint any permanent official to the post, as they may yield to government pressure and allow interference.
