Thailand’s finance minister resigned less than a month after he took office, injecting more uncertainty into an economy already reeling from its worst crisis in decades.
The currency tumbled the most since July. The resignation of Predee Daochai, a former co-president of Kasikornbank Pcl, will be effective from Wednesday, according to a Royal Gazette announcement Tuesday, Bloomberg reports. Predee, 61, was named as the new finance minister on August 6 and joined Prime Minister Prayuth Chan-Ocha’s Cabinet on August 12.
The government did not give a reason for Predee’s resignation, but Thai-language newspaper Krungthep Turakij reported the minister quit because of ill health associated with a stroke he suffered a few years ago. The resignation was not out of any conflict with other government executives, the newspaper reported, citing an interview with Predee.
Prayuth may approach outgoing Bank of Thailand Governor Veerathai Santiprabhob and former president of PTT Pcl Pailin Chuchottaworn to replace Predee, Krungthep reported, citing a source from the government house.
A spokesman for the central bank said he wasn’t aware of Veerathai being approached for the job. The baht tumbled by 0.8 percent to 31.301 per U.S. dollar tosday, the most since July 16.
