ITR Global Tax 50 2022: Patricia Mongkhonvanit
Director-general of the Public Debt Management Office, Thai Ministry of Finance
The importance of government fiscal responsibility has scarcely been greater; the COVID-19 pandemic pushed national debt to new highs in countries across the world.
Patricia Mongkhonvanit was key to driving many important domestic and international tax policies for Thailand, including the rollout of many e-services projects to help improve tax compliance and administration.
An executive of the Thai Revenue Department and a member of the UN Tax Committee from 2018 to 2021, Mongkhonvanit was also an expert on tax policy and public expenditure management for sustainable development of the UN Economic and Social Commission for Asia and the Pacific.
She is currently the director general of the Public Debt Management Office (PDMO) in the Thai Ministry of Finance, a role which involves supervising strategy and administration.
Mongkhonvanit has received high praise not only from her peers, but also from high-ranking sources at global multilateral institutions, including the UN.
In addition to steering Thailand’s debt management through a global pandemic, she has been responsible for raising funds for government budgetary and development projects.
This has involved playing a key role in the development of the southeast-Asian nation’s domestic bond market.
Under Mongkhonvanit, PDMO started using blockchain to sell government savings bonds. It also launched the first e-wallet savings bond using hybrid blockchain technology that tried to appeal to the mass market by reducing the face value of the bond from 1,000 baht ($29) to 1 baht.