Political Tug-of-War Over Thailand's Central Bank Leadership

Over 800 Thai economists, including former central bank governors, have raised concerns about political interference in appointing the Bank of Thailand's board chairman. The government's nomination of Kittirat na Ranong, a political loyalist, threatens the bank's independence, potentially compromising the nation's long-term economic stability.

More than 800 leading economists in Thailand have voiced concerns over political interference in the selection of the central bank's board chairman, highlighting potential risks to the country's long-term economic stability.

The nomination of former Finance Minister Kittirat na Ranong by the government, known for his political allegiances and criticisms of current BOT Governor Sethaput Suthiwartnarueput, has sparked fears about the central bank's independence.

Economists assert that political influence over the Bank of Thailand (BOT) could damage its credibility. Meanwhile, the selection committee meets amid tensions to choose a new board chairman, with the decision requiring multiple approvals.

(With inputs from agencies.)