Monetary and fiscal disciplines the priority

 He insisted that the decree would not introduce any change to the foreign reserve management, though it would seek ways to reduce the government's interest burden.
 "Theoretically, the monetary and fiscal disciplines would be upheld," he said in an interview to Nation Channel.
 Thirachai was reportedly in conflicts with Deputy Prime Minister Kittiratt Na-Ranong over the decree. Kittiratt favoured a harsh option to have the Bank of Thailand take over the entire Bt1.14 trillion debt and the interest burden which is in the range of Bt45-Bt65 billion per annum depending on the interest rate. Thirachai preferred to have the central bank take care of the annual interest burden, while profits from the foreign reserves account would be used to reduce the principal.
 Kittiratt's bold move raised questions if the government is forcing the central bank to print money to neutralise the debt and if the government is tapping the central bank's assets and hence shaking the independence.
  Thirachai in the interview said that the executive decree would just require a technical transfer of the debts and empower the central bank in raising funds to handle the annual interest burden.  Financial institutions will be charged upto 1 per cent of deposits, to help take care care of the interest.
 He insisted that it is a right strategy to seek financial institutions' supports in dealing with the FIDF debts, and with the full cycle of problem solving, this will increase confidence in the Thai financial system.
 Meanwhile, if any law harms the monetary and fiscal disciplines, this would affect confidence in the central bank and the entire nation, he added.