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Confusion amid reports Thailand's top economic team to resign

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Confusion amid reports Thailand's top economic team to resign



FILE PHOTO: Cars pass a Skytrain (Bangkok Mass Transit System) construction site in Bangkok, Thailand May 13, 2018. REUTERS/Soe Zeya Tun


BANGKOK (Reuters) - Thailand's Finance Minister Uttama Savanayana and economic policy guru and Deputy Prime Minister Somkid Jatusripitak are planning to resign their posts, local media reported on Wednesday.


Reuters could not independently confirm the online reports by two Thai media groups, while other media reports said the ministers were not resigning.


Changes to the top economic team could rattle Southeast Asia's worst performing economy, which is struggling with the impact of the coronavirus pandemic, with billions of dollars of stimulus measures being rolled out and big ticket investment projects already slow.


The ministers could not be reached for comment, and the government spokeswoman did not answer phone calls.


Sources in the ruling Palang Pracharat Party gave contradictory answers when contacted by Reuters.


Financial newspaper Than Settakij first reported on Wednesday afternoon that Somkid and three cabinet ministers had tendered their resignation to Prime Minister Prayuth Chan-ocha.


It was followed by a similar report Krungthep Turakij, another financial newspaper in the same media group.


Another daily newspaper Matichon said reports of the resignations were untrue, but its sister financial paper Prachachart said the same group of economic ministers would hold a news conference on Thursday to explain their planned resignation.


The newspapers all cited unnamed sources.



-- © Copyright Reuters 2020-07-15
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Posted (edited)

Are you guys implying that the worst part of this economic downturn is yet to come? That those retired have inside info that <deleted> is about to hit the fan, and that is why they are resigning?


If this is true, those of us that have money from outside Thailand will profit since prices such as rent will go down?


Basically, what im asking is how does this affect me and you?

Edited by phungo
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