Date first published: 29/08/2024
Key sectors: all
Key risks: political instability; policy uncertainty; civil unrest; economic risks
Risk development
On 16 August Paetongtarn Shinawatra was elected prime minister in a parliamentary vote after she was nominated by the Pheu Thai Party (PTP)-led 11-party coalition. The appointment of the 38-year-old daughter of former premier Thaksin Shinawatra capped off a whirlwind week in Thai politics. On 7 August the Constitutional Court disbanded the opposition Move Forward Party (MFP) over its campaign to reform the country’s strict lese-majeste laws and on 14 August it unexpectedly dismissed Srettha Thavisin as premier after less than a year in office over his appointment of a minister with a prior criminal conviction. The developments have returned the spectre of political instability to Thailand, which could compound policy uncertainty amid a deterioration of its economic outlook and rising global volatility.
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