An indirect effect of the financial crisis on Thai politics was the rise of Thaksin Shinawatra. In reaction to the governments economic policies, Thaksin Shinawatras Thai Rak Thai Party won a landslide victory over Leekpais Democrat Party (Thailand) in the Thai general election, 2001 and took office in February 2001. Although weak export demand held the GDP growth rate to 2.2 percent in the first year of his administration, the first Thaksin Shinawatra government performed well from 2002 to 2004 with growth rates of 5.3, 7.1 and 6.3 percent respectively. His policy was later called Thaksinomics. During Thaksins first term, Thailands economy regained momentum and the country paid its IMF debt by July 2003 (two years ahead of schedule). Despite criticism of Thaksinomics, Thaksins party won another landslide victory over the Democrat Party in the Thai general election, 2005. The official economic data related to Thanksinomics reveals that between 2001 and 2011, Isans GDP per capita more than doubled to US$1,475, while, over the same period, GDP in the Bangkok area rose from US$7,900 to nearly US$13,000.. What was Thaksin Shinawatras' first year in office?