Mingkwan: PM needs expertise

Published: 10/07/2009 at 01:01 PM
Online news: Breakingnews

In the midst of economic crisis, Thailand will need a government leader who has expertise in economics and capability to tackle the pressing problems of the country, former deputy prime minister and commerce minister, Mingkwan Saengsuwan, said on Friday morning.

He speaking at a seminar on “Clear the Country’s Debt, Create Income for the People” organised at a hotel in Chiang Mai by the opposition Puea Thai Party.

It was the first economic seminar organised by the main opposition party. The large audience included party executives, former ministers, members of the House No.111 club, former election candidates, businessmen and academics.

Mr Mingkwan said in 1997, the country was suffered a severe economic crisis and was forced to come under the control of the International Monetary Fund.

However, it took the Thai Rak Thai government under former prime minister Thaksin Shinawatra only two years to clear all the country's debts. In contrast, after six months in office the Democrat-led government had done nothing except repeat itself — seeking loans and creating debt.

“I have asked the government about these things in parliament, but there was no response. Therefore, I would like to put three questions to people across the country,” Mr Mingkwan said.

The three questions were; How much per-head debt will each Thai have to shoulder? From where and how can the government earn the money to repay the debt? How many years will the country be under the this burden of debt?

“What kind of prime minister does the country need in the current situation? The short answer is, a person with economic expertise,” Mr Mingkwan said

“Mr Thaksin proved his capability by repaying the debt to the IMF in two years. Whether or not he has a chance of coming back to help settle economic problems depends on you people,” he concluded.

People in the audience included former deputy premier Olarn Chaiprawat, former finance minister Suchart Thadathamrongvej, a young sister of former prime minister Thaksin Shinawatra and deputy party leaders Plodprasop Surassawadee and Panpree Phahitthanukorn.

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Writer: BangkokPost.com

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Josef

Discussion 5 : 10/07/2009 at 08:47 PM5
Who can tell me one industrialized country, that does not create debt during this world-wide economy crisis??
Germany, USA, Britain and all other countries make billions of Euro or. US $ debt!!!
Also Thaksin could not avoid debt in this situation, even if he would drink a magic portion!!
Nobody has the spell, to solve the crisis at once!
Let Abhisit tackle the problem - he is not stupid!
Nula

Discussion 4 : 10/07/2009 at 07:35 PM4
boris, are u sure it's a job by Chuan Leekpai ?
boris

Discussion 3 : 10/07/2009 at 03:50 PM3
Why do they keep giving Thaksin credit for clearing the IMF debt -most of the hard work was done by Chuan Leekpai.
supattana

Discussion 2 : 10/07/2009 at 03:19 PM2
"Thai Rak Thai government under former prime minister Thaksin Shinawatra only two years to clear all the country's debts." Is this a fact or fiction? When TRT came into power,the mechanism of economic reforms were in place that allowed the debts to be cleared in 2 years after TRT entry. Didn't he slammed the previous government of bowing to IMF demands? This economic crisis is worldwide and more complex and it's doubtful he is able to solve it.Remember what Samak said about the number of deaths of Black October,"Only one died and he was a drunk policeman"
PAID OFF THE IMF LOAN?

Discussion 1 : 10/07/2009 at 03:08 PM1
Mingwan said "However, it took the Thai Rak Thai government under former prime minister Thaksin Shinawatra only two years to clear all the country's debts".

Well lets get this into a clear picture. Did taxsin actually pay off the IMF debt, can he really claim to have cleared the debt?

The answer is clearly NO. What should be recognized is that policies etc., put in place before taxsin, plus good business by Thai companies is what generated the situation where taxation receipts were very high, thus Thailand was able to repay the IMF debt.

It is false to claim that taxsin paid off the IMF debt in two years.

Lets also remember that it was taxsin political colleagues who generated the IMF debt in the first place. And it's still suggested that in fact some of these people benefitted enormously from the melt down.

Lets also please recognize that Thailand, right now, does in fact have a highly capable, highly experienced, highly respected person in charge of economic and monetaryary affairs - Khun Korn.

Mingkwan: PM needs expertise