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MFP Faces Potential Dissolution Weds, PM To Hear His Verdict Next Week
Thailand's Move Forward Party (MFP) faces dissolution as the Constitutional Court is set to announce its verdict on Wednesday, concluding a case which has been hanging over the main opposition party for many months after last year's election. On the eve of the announcement, Khaosod reminds that "Thailand’s courts, especially the Constitutional Court, are considered a bulwark of the royalist establishment" which the MFP has been seeking to challenge.
- Several days ago, MFP leader Pita Limjaroenrat met with a group of Western European ambassadors and senior diplomats, which some interpreted as an attempt to pressure the Constitutional Court ahead of its verdict. Separately, US Senate Foreign Relations Committee Chair Ben Cardin expressed concern over the potential dissolution of the MFP, fuelling speculation of a potential adverse impact on Thailand's foreign relations.
- In parallel, the Constitutional Court is considering an ethics case against Prime Minister Srettha Thavisin, with the verdict due to be announced on August 14. Srettha said today that he would consider a reshuffle of his cabinet if he survives the challenge, following a request from the United Thai Nation (UTN) Party to allow its Secretary General Akanat Promphan to fill a vacant ministerial seat.
- Separately, the government's legal czar Wissanu Krea-ngam said that if Srettha is removed by the apex court, parliament would convene to choose a new PM. Lawmakers would pick a new leader from among the candidates proposed at the last election by parties with at least 25MPs. Srettha's Pheu Thai Party (PTP) proposed Paetongtarn Shinawatra and Chaikasem Nitisiri, with the former - daughter of the PTP's political patron Thaksin Shinawatra - believed to stand a better chance.
- Data released Tuesday showed that consumer confidence in Thailand fell to an 11-month low in July. The authors of the survey said that "it a political accident occurs requiring a change in Prime Minister, it could create a political vacuum for about 4 months (...) This could potentially reduce Thailand's economic growth by 0.3pp this year."
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.