Economics
Thailand Seeks New Economic Chiefs During Worst Crisis
- Finance minister resigned, BOT governor won’t seek second term
- Economy is set to contract more than 8% in 2020 amid virus
The downtown Bangkok skyline.
Photographer: Allison Joyce/Getty Images AsiaPacThis article is for subscribers only.
Thailand is replacing the top two officials steering the economy through its worst crisis ever, injecting more uncertainty into the policy outlook.
Finance Minister Uttama Savanayana resigned July 16 ahead of a Cabinet reshuffle, with Prime Minister Prayuth Chan-Ocha saying he’ll announce a likely replacement by next month. At the Bank of Thailand, the search for a successor to Governor Veerathai Santiprabhob is entering the final stages, although the Cabinet changes may delay that process. Veerathai, 50, has declined to seek a new term when his current one ends in September.