The Constitutional Court of Thailand has suspended Prime Minister Paetongtarn Shinawatra pending a ruling on a petition for her ouster due to alleged ethical violations. The court's decision was supported by seven out of nine judges and follows allegations stemming from a leaked phone conversation involving former Cambodian leader Hun Sen. Paetongtarn is required to respond to these charges in 15 days. The suspension has impacted the Thai baht and stock markets, with Suriya Juangroongruangkit stepping in as acting leader during this period.
The Constitutional Court has suspended Prime Minister Paetongtarn Shinawatra from office until it rules on a petition seeking her ouster for alleged ethical violations. The court's decision came after a petition from senators alleging her comments in a leaked phone call constituted violations of ethical standards.
The baht fell on the news, while the yield on benchmark 10-year bonds edged lower. The benchmark stock index rallied as much as 1.8% on expectation that her suspension will help reduce political tension.
Suriya Juangroongruangkit, a deputy prime minister and transport minister, will be the acting leader while Paetongtarn has 15 days to respond to the charges against her.
Political analyst Titipol Phakdeewanich indicated that this situation could signal the end of the Shinawatra dynasty, a family with significant political influence in Thailand, as Paetongtarn is the third member to lead the country.
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