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Veerathai opts out of second term as Central Bank chief

BANK of Thailand Governor Veerathai Santiprabhob stated today (25.5.2020) that he does not wish to enter the selection process for holding this position for a second term because of family reasons, PostToday reported.

The Chairman of the Bank of Thailand Governor Selection Committee Rangsan Srivorasart had announced on May 22 that the application period for the next Central Bank governor will run from May 26 to June 16, with a meeting to be held on June 18 to compile the list of applicants.

After that the committee must propose two candidates to Finance Minister Uttama Savanayana, who will pick the next governor and forward his selection to the cabinet for nomination for royal appointment, Bangkok Post said.

If there were only one or no candidates, the application period would be extended

Mrs Janthawan Sucharitkul, assistant to the governor on communication and corporate relations, said Mr Veerathai, who will be completing his first five-year term as Bank of Thailand governor on September 30, 2020, will ensure smooth transfer of work and responsibilities to the new governor before he takes office on October 1.

Mr Veerathai, who holds a master’s degree and a doctorate degree in economics from Harvard University, previously worked at the International Monetary Fund, Siam Commercial Bank and the Stock Exchange of Thailand.

The new governor faces a challenging task as the Bank of Thailand had earlier forecast that the economy would shrink by 5.3% this year, the first contraction since the 2008 global financial crisis.

CAPTION:

Top: Bank of Thailand Governor Veerathai Santiprabhob. Photo: PostToday

Nina
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