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Paetongtarn Wins Party Leadership Contest Amid Shinawatras' Return To Centre Stage
Thailand's ruling Pheu Thai Party (PTP) elected Paetongtarn Shinawatra to become its new leaders. The daughter of former Prime Minister Thaksin Shinawatra ran unopposed and received 289 votes with one abstention. The widely expected outcome cements the political configuration that emerged after this year's general elections.
- The election was triggered by the resignation of former PTP leader Cholnan Srikaew, who had earlier pledged to step down should his party ever cooperate with pro-junta Palang Pracharath Party (PPRP) or the United Thai Nation (UTN), both of which eventually became the PTP's junior coalition partners.
- The power-sharing agreement between former foes PTP and the military establishment has allowed for the marginalisation of election front-runners Move Forward Party (MFP) as well as for the revival of the Shinawatra clan's traditionally significant status in Thai politics.
- Thaksin remains imprisoned, but his sentence has been commuted to just one year, while he spent most of his prison time so far in a police hospital. A senior corrections official said that he might be able to apply for parole in February.
- During her maiden speech as party leader, Paetongtarn said that the PTP needs to draw lessons from the latest election in order to secure a victory in the next one. Otherwise, she reaffirmed the PTP's familiar policy priorities and lauded the decision to install Srettha Thavisin as Prime Minister.
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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.