Central Banks
Thai King Endorses Vitai’s Appointment as Bank of Thailand Chief
Source: Government Savings Bank
Thailand’s King Maha Vajiralongkorn has endorsed the appointment of Vitai Ratanakorn as the nation’s new central bank governor, more than two weeks after the cabinet picked the seasoned banker for the coveted role.
The royal endorsement caps a monthslong selection process that has been overshadowed by concerns over government attempts to erode the autonomy of the Bank of Thailand. Vitai is set to take office from Oct. 1, according to a Royal Gazette notification issued Sunday. Incumbent Governor Sethaput Suthiwartnarueput is due to complete his five-year term on Sept. 30.