The winds of change have begun to swirl around the Bank of Thailand (BoT), as the Ministry of Finance kicks off the hunt for a new governor to helm the country’s central bank. The clock is ticking as Sethaput Suthiwartnarueput’s eventful five-year stint heads towards its September 30 conclusion. A selection posse—led by the very capable Sathit Limpongpan, former Finance Permanent Secretary—prepares to rendezvous and hash out requirements for aspiring governors, so says government spokesperson Pornchai Thiraveja.
Under the watchful eye of Thai law, this said committee must present a duo of candidates to the finance minister at least three months before Sethaput hangs up his banking hat. Who will fill these shoes of governance? Names bandied about in the chatter of local media include Roong Mallikamas, who currently rolls up her sleeves as BoT’s deputy governor; Sutapa Amornvivat, a former IMF brainiac and orchestrator at SCB X’s fintech, Abacus Digital; Santitarn Sathirathai, an independent adviser and sage member of the Monetary Policy Committee; plus, Ekniti Nitithanprapas, reigning over the Treasury Department like a fiscal chancellor.
Sethaput, once a strategist at the World Bank, has been the monetary maestro since 2020. Alas, time trundles on, and upon reaching the grand age of 60 this year, he’s ineligible for a second curtain call. He spent his tenure resisting the symphony of opposition demanding interest-rate recitals to pump up Thailand’s shuffling economic dance.
His take on Pheu Thai’s digital wallet free-for-all—a spendthrift’s spree amounting to 450 billion baht—was less than enthusiastic. He spoke with the gravitas of central bank independence and played his tune for structural economic reforms. The previous year saw things get spicy when an attempt was made to crown Kittiratt Na-Ranong as the chair of the BoT board. Former Pheu Thai minister though he was, opposition bristled at the political antics and a judicial gavel fell, rendering him unsuitable. The hunt resumed, amidst murmurs of Somchai Sujjapongse’s nomination for the chair.
Meanwhile, the world doesn’t slow its whirl for governor pickings. From trembling grounds to law revision in Bangkok, life and drama enfold. Landscapes shift in the Deep South peace talks, and amidst all that, a pit bull—rescued but rebellious—causes a ruckus. A veritable medley of modern life keeps Thailand on its toes. Even online markets buzz with AI innovation, coaxing humble sellers towards technological wizardry.
So as the cabinet takes its time with tough choices, mulling over resumes, the stage is quietly set for a new maestro to guide the Bank of Thailand’s symphony. And the cadence of the economy waits with bated breath for its leader’s next note.
I think Roong Mallikamas would make an excellent choice for governor. She has the experience and the understanding of the BoT’s needs.
But isn’t she too much of an insider? We need fresh perspectives!
It’s not always about fresh perspectives. Continuity is important for maintaining stability, especially in these turbulent times.
Why isn’t anyone considering someone from outside the usual financial circles? We need innovation!
Innovation, yes, but also a solid understanding of complex financial systems. It’s a tough balance.
It’s really brave of Sethaput not to bow down to political pressure. His decision against the digital wallet was the right one.
The digital wallet could have boosted spending in the short term. Missed opportunity in my eyes!
But it’s not sustainable. Quick fixes don’t solve long-term economic issues.
Why does Thailand have this age limit for governors? Experience increases with age!
Good point! Arbitrary age limits don’t make sense. We lose valuable expertise.
Interesting to see Kittiratt Na-Ranong rejected. Politics should have no place in BoT appointments.
The BoT’s independence is critical, but let’s not pretend it’s free from political maneuvering.
Why keep everything about the BoT so secretive? Public transparency would build trust.
Sometimes transparency hampers sensitive decisions. It’s a tricky balance.
What a mess with the BoT board chair issue! Do we even need this position?
The chair role is crucial for oversight. But choosing wisely is just as crucial.
Whatever happens, the governor better understand modern finance, especially with tech changing the game.
True, fintech is transforming everything. Let’s hope the candidate is tech-savvy.
LOL, all this fuss and yet the world keeps spinning. Does it really matter who the governor is?
Of course it matters! A competent governor can significantly impact the country’s economy.
Looking forward to a new pick! Hopefully, they prioritize sustainable economic policies.
Agreed. We’ve seen too many short-sighted policies that failed.
Santitarn Sathirathai has my vote! His expertise is unmatched and would bring a fresh view.
Ekniti Nitithanprapas is a dark horse here. A strong regulatory background could be beneficial.
Regulation is important, but flexibility and adaptability are even more crucial.