Thai PM ‘Srettha’ Not Stepping Down from Finance Minister amid False Report

The report from Bloomberg on Wednesday of Thai PM Srettha Thavisin aiming to step down from his position as finance minister has the market doubting the possibility of it actually happening.

According to Bloomberg, which cited a local media report, the Thai Prime Minister Srettha Thavisin would renounce his position as finance minister, which could ease tension over monetary policy between the PM and the Bank of Thailand.

The report noted that the successor for the position could be Pichai Chunhavajira, who was recently appointed as the chair of the Stock Exchange of Thailand, as he was the confidant of the Thai PM and was seen capable of implementing the government’s economic policies in such a critical situation.

The adjustment of the position could ease tension between the Thai PM and the Bank of Thailand after both parties frequently collided on the approaches to recover Thailand’s economy, especially on the interest rates.

Following the report, Mr. Julapun Amornvivat, Deputy Minister of Finance, told ‘Kaohoon’ that the report was false and baseless, while also criticizing the global media outlet for reporting such news. He also noted that the resignation must be done in accordance with a reshuffle and reaffirmed that the said report is false.