Box Story 7:Economic Society of Singapore (ESS)
Tharman Shanmugaratanam, Minister for Finance (centre) with Tim Geithner,
President and Chief Executive Officer of the Federal Reserve Bank of New York
(left), and Terrence J. Checki, Executive Vice President and Head of Emerging
Markets, Federal Reserve Bank of New York (right) at the ESS Annual Dinner.
Timothy F. Geithner, President and Chief Executive Officer of
the Federal Reserve Bank of New York, delivered the keynote
address the Economic Society of Singapore (ESS) Annual Dinner,
on 13 June 2007. Mr. Geithner spoke on "Asia, the World
Economy and the International Financial System". He discussed
the causes of the Asian Financial Crisis and noted how Asia
had developed since then. He felt that Asian economies should
continue to strengthen their financial systems further in order
to build capacity to handle the open-economy challenge of
The ESS is a non-profit organisation which brings together
economists in academia, government and the private sector.
The year 2007 marked the 10th anniversary of the Asian Financial
Crisis and the Annual Dinner was a good platform for a timely
discussion on the Asian Financial Crisis, Asia's subsequent
response to it and the challenges that Asia faces in the current
international financial system.
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