Showing 1 - 3 of 3
Thailand's central bank dependence
Oped, Thitinan Pongsudhirak, Published on 23/02/2024
» To proponents of central bank independence, the ongoing friction between Prime Minister and Finance Minister Srettha Thavisin and Bank of Thailand Governor Sethaput Suthiwartnarueput appears straightforward. The prime minister is putting unwarranted and unfair pressure on the central bank governor to spur the economy by loosening monetary policy and cutting interest rates. Yet, on closer scrutiny, the entrenched politicisation of central banking in Thailand may suggest otherwise. There is more than meets the eye in the politics of interest rate cuts.
Next poll brings highest stakes, risks
Oped, Thitinan Pongsudhirak, Published on 09/12/2022
» In the face of the myriad of questions and issues that beset Thai politics in the lead-up to the general election, which must be held by May 7, the biggest facts and dilemmas are not being raised. Prime Minister Prayut Chan-o-cha is now headed to complete nine years in office, the first five of which were under a military government after he and his cohorts seized power by force in May 2014, and the last four under an elected coalition government enabled by the 2017 constitution crafted by a committee the ruling generals had set up. Moving forward, Thailand risks settling into a prolonged period of economic stagnation and political decay unless there is a qualitative change of government after the poll.
Post-Covid headwinds hit the region
Oped, Thitinan Pongsudhirak, Published on 14/10/2022
» As the five economies in mainland Southeast Asia re-emerge from the Covid-19 pandemic, their prospects for recovery and return to growth and development appear challenged, characterised by deteriorating balance of payments, fiscal weaknesses, currency depreciations, and rising inflation amidst global monetary tightening and recession risks.