PUBLISHED : 4 Jan 2025 at 06:18
The selection committee for the Bank of Thailand’s new board chairman faces a critical decision on whether to continue with the current candidates or seek an alternative list from the Finance Ministry.
A source close to the ministry indicated that the legal framework governing the appointment allows the ministry to propose a list matching the number of vacancies, while the central bank may present a list consisting of double that number.
Following this, the selection committee will use its recommendations regarding board members and the chair to offer a consolidated list to the ministry.
Current deliberations also involve the Council of State’s assessment on whether candidate Kittiratt Na-Ranong aligns with the qualifications specified by Bank of Thailand regulations, especially the stipulation that candidates must have been removed from political office for a minimum of one year.
The Council of State has raised concerns that Mr. Kittiratt’s qualifications could be at odds with this requirement.
The ministry is now tasked with relaying the Council’s findings to the selection committee, which will then decide to uphold the original candidate list or recommend that the ministry provide a new one.
Speculation exists that the council interpreted Mr. Kittiratt’s roles as an advisor to the prime minister and chair of a public debt management committee as holding political significance.
The council indicated that determining the political nature of a position involves both the designated roles and the individual’s influence over public officials.
The selection process for the new central bank chairman has been dogged by delays and controversies, with concerns about potential political interference growing amid reports that the government may propose a favored candidate to replace Porametee Vimolsiri, whose term concludes in October.
Kittiratt, a former commerce minister, has emerged as a prominent candidate, possessing a background as deputy leader and chief economic strategist for a major political party and being vocal about his criticisms of the central bank’s interest rate strategies and its independence. He has previously served as an advisor to a former prime minister.
