'Ex-central bank chief favourite to be Thai PM'

Bangkok, Sept 23: A former central bank chief has been tipped to become Thailand's interim civilian leader after Prime Minister Thaksin Shinawatra was ousted in a military coup, a newspaper reported today.

Chatu Mongol Sonakul was deemed one of the best-qualified for the job because of his monetary and fiscal expertise as well as his recognition in the world community, the Bangkok Post quoted ''highly placed sources'' as saying.

The British-educated technocrat led the Bank of Thailand from 1998 to 2001 when he was sacked by Thaksin in a dispute over interest rate policy. He was not available for comment.

The military, which seized power four days ago and promised to name a civilian leader in two weeks and then step back, was reported to favour a lawyer to steer political reform over the next year.

Air force chief Chalit Phukpasuka confirmed yesterday that Supreme Administrative Court President Ackaratorn Chularat was a candidate, dousing speculation that an economist would get the job.

But the Bangkok Post said Ackaratorn was unlikely to be named interim prime minister because his knowledge of economic issues was regarded as limited, and he is not widely known in the international community.

The new prime minister was expected to be named on September 30, one day after the endorsement of the interim constitution, the newspaper said.

A spokesman for the Council for Democratic Reform under Constitutional Monarchy, which the coup group calls itself, was not available for comment.

As central bank governor, Chatu Mongol was widely credited with helping to rebuild the credibility of the bank in the wake of the 1997/98 Asian financial crisis.

Speculation has also centred on former World Trade Organisation chief Supachai Panitchpakdi and central bank boss Pridiyathorn Devakula, respected men thought most likely to assure the world that Thailand's export-dependent economy was in good hands.

Thailand's military said it had been forced into Tuesday's coup because there was no other way out of a crisis that pitted Thaksin, twice an election winner in a landslide, against the old guard and street campaigners determined to drive him out.

Thaksin was in New York at the UN General Assembly at the time of the coup, Thailand's first in 15 years but its 18th since it became a constitutional monarchy in 1932.

He is now in London, where he issued a highly conciliatory statement calling for national reconciliation but giving no indication he intended to return to Thailand soon.

REUTERS

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