ON THE INTERNATIONAL FRONT
- INTERNATIONAL FINANCE
- Promoting Global Growth and Stability
- International Financial Regulatory Reforms
- Box 6: MAS Lecture
PROMOTING GLOBAL GROWTH AND STABILITY
Deputy Prime Minister (DPM) Tharman Shanmugaratnam completed his term as Chairman of the IMF's International Monetary and Financial Committee (IMFC) in March 2015. The IMFC provides broad policy guidance to the IMF Executive Board. DPM Tharman had been appointed to the position by his peers in 2011 for an initial three-year term, and was asked in 2014 to stay on for another year. Members expressed their appreciation to DPM Tharman for his leadership during a challenging period for the global economy and for his strong advocacy of IMF reform.
During DPM Tharman's term as Chairman, he presided over policy discussions on the Euro area sovereign debt crisis. He also fostered close partnership between the IMFC and the G20 to advance IMF quota and governance reform.
DPM Tharman continued to participate in the discussions of the IMFC after the end of his term, representing the Southeast Asia Voting Group. These discussions centred on forestalling a prolonged period of mediocre global growth, and the need for comprehensive and well-integrated policies.
Ms Christine Lagarde, Managing Director of the IMF, showing her appreciation to Mr Tharman Shanmugaratnam, Deputy Prime Minister and Chairman of MAS