6-3-2024 (BANGKOK) The political landscape in Thailand is undergoing a complex transformation as Srettha Thavisin navigates the challenging role of prime minister in a coalition government with a curious power dynamic. Amidst this, the fate of former Prime Minister Thaksin Shinawatra and a bold economic initiative further add to the unfolding drama.
Srettha Thavisin, a 62-year-old real estate tycoon, theoretically leads Thailand’s government coalition with 314 Members of Parliament. However, his practical influence is questioned, as he is neither an MP nor the leader of the ruling party, Pheu Thai. Instead, power dynamics within the coalition are primarily orchestrated by Pheu Thai leaders, notably Phumtham Wechayachai and Dr Prommin Lertsuridej, who maintain close ties with Thaksin Shinawatra.
Thaksin’s influence remains significant, evident in his daughter Paetongtarn’s uncontested election as the new Pheu Thai leader in October 2023. Despite being a political novice, Paetongtarn is speculated to join the Cabinet soon, adding another layer of intrigue to the political scenario.
Srettha’s political future is closely tied to the success of the “Digital Wallet” initiative, a proposed handout of 10,000 baht (US$279) in digital credits to low-income Thais. Srettha has clashed with the Governor of the Bank of Thailand, Sethaput Suthiwartnarueput, over the economic situation. While Srettha insists on urgent stimulation through digital handouts, Sethaput advocates for increased investments.
The proposed Digital Wallet programme, requiring substantial funding, has faced resistance due to concerns about violating fiscal discipline laws. Srettha’s commitment to this initiative is a calculated political move aimed at enhancing Pheu Thai’s image and his own standing.
Thaksin Shinawatra’s recent release on parole after serving 180 days in the Police Hospital introduces another element to the political landscape. Despite his release, Thaksin faces criminal charges related to insulting the previous monarch, King Bhumibol, in a 2015 interview. Thaksin’s interactions, including a meeting with Cambodia’s former prime minister Hun Sen, hint at continued regional influence.
The Attorney-General’s decision on proceeding with Thaksin’s case is scheduled for April 10, setting the stage for potential legal ramifications. If cleared, Thaksin could regain his freedom by August, making his political role more pronounced.
