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Korn's Criticism: Emergency Loan vs. Moody's Positive Signals

Korn's Criticism: Emergency Loan vs. Moody's Positive Signals

MGR Online•General•18d ago

Reader Briefing

Former Finance Minister Korn Chatikavanij questions the government's justification for an emergency loan decree, arguing positive economic indicators contradict the necessity for such measures.

  • •Korn Chatikavanij criticized the government's plan to issue an emergency decree for borrowing money.
  • •He argued that positive economic signals, including Moody's assessment, suggest Thailand is not in a crisis requiring emergency loans.
  • •Korn cited Article 172 of the Constitution, which limits emergency decrees to situations of national security, public safety, economic stability, or disaster.
  • •He questioned whether the current situation meets the constitutional requirement of being urgent and unavoidable.

Overview

  • •On May 7, Korn Chatikavanij stated that positive economic signals are a cause for celebration for the country.
  • •Anutin Charnvirakul previously highlighted positive economic trends, citing Moody’s assessment of Thailand's investability.
  • •Korn Chatikavanij argued that these positive economic indicators serve as confirmation that Thailand is not in a crisis situation requiring emergency borrowing.
  • •Korn Chatikavanij cited Article 172 of the Constitution as a strict framework for issuing emergency decrees, requiring situations related to national security, public safety, economic stability, or disaster.
  • •The Constitution requires the Cabinet to deem the situation an urgent and unavoidable emergency for such decrees to be enacted.
  • •Korn Chatikavanij questioned whether the current economic situation meets the constitutional requirement of being urgent and unavoidable.
  • •Korn Chatikavanij affirmed his willingness to support measures for national development but maintained his stance on this issue.
  • •This exchange raises significant questions for the authorities about whether the Thai economy is in an 'emergency crisis' necessitating immediate borrowing or experiencing 'positive signals' as claimed by government leaders.

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Key Quotes

Korn Chatikavanij
"This positive economic direction is a cause for celebration for the country; however, it simultaneously serves as strong confirmation that Thailand is not in a crisis situation that meets the conditions for emergency borrowing."
ทิศทางเศรษฐกิจเชิงบวกนี้ถือเป็นเรื่องที่น่ายินดีสำหรับประเทศ แต่ในขณะเดียวกัน สิ่งนี้กลับเป็นเครื่องยืนยันชั้นดีว่า ประเทศไทยไม่ได้ตกอยู่ในสถานการณ์วิกฤตที่เข้าเงื่อนไขในการกู้เงินฉุกเฉิน
Korn Chatikavanij
"Borrowing money through an emergency decree is strictly governed by Section 172 of the Constitution, which stipulates it must be 'in cases for the benefit of national security, public safety, economic stability, or to avert public disaster.'"
การจะกู้เงินผ่านการออก พ.ร.ก. นั้น รัฐธรรมนูญ มาตรา 172 ได้วางกรอบไว้อย่างเคร่งครัดว่า ต้องเป็นไป "ในกรณีเพื่อประโยชน์ในอันที่จะรักษาความปลอดภัยของประเทศ ความปลอดภัยสาธารณะ ความมั่นคงในทางเศรษฐกิจของประเทศ หรือป้องปัดภัยพิบัติสาธารณะ"
Korn Chatikavanij
"It can only be done when the Cabinet deems it an emergency situation that is urgent and unavoidable."
ให้กระทำได้เฉพาะเมื่อคณะรัฐมนตรีเห็นว่าเป็นกรณีฉุกเฉิน ที่มีความจำเป็นรีบด่วนอันมิอาจจะหลีกเลี่ยงได้

Key Entities

Person

Korn Chatikavanij(กรณ์ จาติกวณิช)ℹ️
Critic of the government's emergency loan plan and former Minister of Finance.
Anutin Charnvirakul(อนุทิน ชาญวีรกูล)ℹ️
Government figure who previously highlighted positive economic signals.

Organization

Moody's(มูดีส์)ℹ️
Credit rating agency that provided positive signals about Thailand's economy.

Law

Constitution Article 172(รัฐธรรมนูญ มาตรา 172)
The legal provision cited regarding the conditions for issuing emergency decrees.