Chatumongol Sonakul
Mom Ratchawongse Chatumongol Sonakul | |
|---|---|
| Born | Thailand |
| Occupation(s) | Economist, civil servant, politician |
| Known for | Former Governor of the Bank of Thailand, Minister of Labour, Permanent Secretary at the Ministry of Finance |
Mom Ratchawongse Chatumongol Sonakul () is a former Governor of the Bank of Thailand, ex-Minister of Labour, and served as permanent secretary at the Ministry of Finance.
Life and career
Chatumongkol, a member of the noble Sonakul family and a great-grandson of King Rama IV, received his education at Harrow School. He earned honors degrees in engineering and economics from Cambridge University and furthered his studies at Harvard University's John F. Kennedy School of Government. His career progressed within the Ministry of Finance, where he held positions including Director-General of the Tax Department and deputy permanent secretary.
From October 1995 to July 1997, he was the permanent secretary—the highest-ranking civil servant in the ministry—during a turbulent era that included the baht's devaluation, its transition to a floating exchange rate, the Asian Financial Crisis, and involvement by the IMF. Shortly after, the Chavalit Yongchaiyudh administration removed him from his post.
Under the Democrat Party-led government that followed, Chatumongkol was appointed Governor of the Bank of Thailand in 1998, a role he maintained until May 2001 when he was dismissed by the Thai Rak Thai administration.
Subsequently, Chatumongkol became an outspoken opponent of Thaksin Shinawatra’s populist employment initiatives, advocating instead for industrial advancement and technology transfer. He emphasized that prioritizing "machines and know-how" would yield more sustainable economic growth than generating low-skilled employment opportunities.
After the military coup in 2006 that deposed Thaksin, Chatumongkol was considered as a possible prime ministerial candidate but was ultimately not selected. He showed readiness to engage in politics aligned with the Democrat Party; however, they were unsuccessful in ensuing elections.
When the Democrats regained power in 2008, he was appointed chairman of the Bank of Thailand’s Board. In this capacity, he noted that many individuals who benefited from Thaksin’s policies found themselves in saturated low-wage jobs, which eroded their political allegiance to Thai Rak Thai.
On 20 July 2020, Chatumongkol resigned as leader of the Action Coalition for Thailand, leading to his departure from the position of Minister of Labour.
Personal life
His son, Mom Luang Apimongkol Sonakul, secured election as a Democrat Party MP representing Bangkok, taking over the seat previously held by Charoen Kantawongs.
National honours
- Knight Grand Cordon (Special Class) of the Most Exalted Order of the White Elephant
- Knight Grand Cordon (Special Class) of The Most Noble Order of the Crown of Thailand
- Knight Grand Commander (Second Class, higher grade) of the Most Illustrious Order of Chula Chom Klao
- Chakrabarti Mala Medal