Bulletin: Thai Prime Minister's Exit Will Not Seriously Undermine Sovereign Credit Support

This report does not constitute a rating action. SINGAPORE (S&P Global Ratings) Sept. 1, 2025--Thailand's political volatility is unlikely to seriously undermine the sovereign credit outlook. We expect little disruption to government operations following the recent ouster of Ms. Paetongtarn Shinawatra as prime minister. The Thai bureaucracy has been a stabilizing political institution through political crises since 2006. The recent events underscore entrenched policymaking challenges in the country. The bureaucracy will nevertheless continue to provide public services and ensure financial stability after the constitutional court removed Ms. Paetongtarn from office on Aug. 29, 2025. The court had suspended Ms. Paetongtarn from duties since July 1. That said, the House of Representatives would still need a simple majority to elect a

...September 1, 2025 This report does not constitute a rating action. SINGAPORE (S&P Global Ratings) Sept. 1, 2025--Thailand's political volatility is unlikely to seriously undermine the sovereign credit outlook. We expect little disruption to government operations following the recent ouster of Ms. Paetongtarn Shinawatra as prime minister. The Thai bureaucracy has been a stabilizing political institution through political crises since 2006. The recent events underscore entrenched policymaking challenges in the country. The bureaucracy will nevertheless continue to provide public services and ensure financial stability after the constitutional court removed Ms. Paetongtarn from office on Aug. 29, 2025. The court had suspended Ms. Paetongtarn from duties since July 1. That said, the House of Representatives would still need a simple majority to elect a new prime minister. This could strain the current coalition government and potentially lead to a new coalition or fresh elections, in certain...

Bulletin