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MNI US Macro Weekly: Politics To The Fore
Ruling Party Oust Secretary General Thamanat
Defeats in Chumphon and Songkhla by-elections proved to be the final nail in the coffin of Thamanat Prompow's career in the ruling party, as rival party members accused him of alienating voters. The executive leaders of Palang Pracharath party, also known under the acronym PPRP, ousted Thamanat and 21 of MPs loyal to the party's outgoing Secretary General.
- Party leaders took the decision after PPRP lost Sunday by-elections in Chumphon and Songhla to the Democratic Party, whose members earlier vacated both seats. Thamanat led campaign efforts instead of Prime Minister Prayuth and thus took the flak for underwhelming results. PPRP executives accused his faction of creating rifts to the detriment of the party.
- Thamanat held the role of PPRP Secretary General and was close to party leader and Deputy Prime Minister Prawit Wongsuwon but he was conflicted with Prime Minister Prayuth. Last September, Thai media outlets circulated reports on his failed plot to oust Prayuth, which led to his dismissal as Deputy Agriculture Minister.
- Thamanat and the 21 ousted MPs from his faction have 30 days to find a new party or they will lose their status as lawmakers.
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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.