On November 11, the Bank of Thailand (BOT) is set to hold a meeting to select its new chair and independent board members, a decision delayed from November 4. The process has drawn intense public scrutiny and significant opposition due to the nomination of figures linked to the Ministry of Finance, particularly Kittiratt Na-Ranong, former Deputy Prime Minister and Finance Minister. Also nominated were Kulit Sombatsiri, former Permanent Secretary of the Ministry of Energy, and Surapol Nitikraipot, a senior figure at Thammasat University. The likelihood of Kittiratt’s selection has sparked concern from advocacy groups and influential individuals.
Followers of the respected monk Luangta Maha Bua Yanasamphanno have announced plans to submit complaints opposing politically connected appointments, viewing them as a threat to BOT’s independence. Additionally, former BOT Governor Veerathai Santiprabhob warned on social media that political influence over the central bank could destabilize Thailand’s economy, risking a shift toward short-term, politically driven policies.
The Social Economics Group, which includes four former BOT governors and over 800 supporters, issued a statement stressing that the board's leadership should be free of political ties to protect BOT’s credibility and long-term economic stability. They argue that while BOT, like any institution, has made mistakes—such as during the 1997 Asian financial crisis—global precedent shows that political intervention often causes greater harm. They urge the selection committee to prioritize candidates’ qualifications over political affiliations, preserving BOT’s independence for the long-term economic health of Thailand.