Thailand hunts for new finance minister to tackle economy in crisis

13 Sept 13:40 Key points summarised by AI

Thailand is urgently seeking a new finance minister following Preedee Daochai's abrupt resignation, aiming to stabilize an economy severely impacted by the coronavirus pandemic.
The incoming minister faces the critical task of navigating an economy projected to shrink by a record 8.5% this year, with investors pressing for a swift and suitable appointment to ensure policy continuity and build confidence.
Potential candidates include Deputy Finance Minister Santi Promphat, who has expressed readiness, and former PTT CEO Pailin Chuchottaworn; however, outgoing central bank governor Veerathai Santiprabhob has publicly denied interest in a full-time political role despite media speculation.

Speculation growing over merger between Bhumjaithai and Kla Tham parties

Today 16:46 Key points summarised by AI

A dinner between Bhumjaithai and Kla Tham party leaders sparked rumors of a potential merger, though Bhumjaithai's leader, Anutin, downplayed it as a casual meal.
The meeting is widely interpreted as a strategic message from Bhumjaithai to the Pheu Thai party, signaling alternative support ahead of an upcoming no-confidence debate.
Thailand's Constitution (Section 99) currently prohibits direct mergers of parties with sitting MPs during the House's term, a rule designed to prevent the 'buying and selling' of MPs.
While direct mergers are restricted, MPs can still switch parties if dismissed by a three-fourths party vote or if their party dissolves, allowing for indirect political realignments.
Kla Tham's voting behavior in the censure debate will demonstrate its loyalty to the government, potentially influencing future political dynamics despite current merger restrictions.