Annual Report 2001/2002

Relations with the IMF

Singapore fully supports the work of international financial institutions, such as the IMF, in promoting international financial stability. Singapore is currently represented at the Alternate Executive Director level at the IMF South East Asia Voting Group. Besides holding regular Article IV Consultations with the IMF, Singapore will also participate in the joint IMF-World Bank Financial Sector Assessment Programme (FSAP) in 2002 to 2003, and the associated Reports on the Observance of Standards and Codes. MAS also contributes resource persons and assessors at the request of the IMF and the World Bank, to participate in FSAP and other missions to other countries.

Singapore and the IMF jointly set up the IMF-Singapore Regional Training Institute (IMF-STI) in Singapore in May 1998. The IMF-STI trains officials from developing countries in the Asia Pacific in macroeconomic adjustment and reform policies, financial programming, monetary and exchange operations, public finance, banking supervision, and statistics. The IMF-STI has seen overwhelming demand and runs at full capacity. As of end March 2002, it has conducted over 97 courses for 2,200 officials from 41 countries.

MAS also participates in the outreach efforts of the IMF. On 15 June 2001, MAS and the IMF co-hosted the IMF Outreach Seminar on Reserve Management Guidelines. Participants from the regional central banks exchanged views on the IMF’s draft guidelines, and shared their experience on reserve management practices. Together with the Institute of Policy Studies, MAS co-organised a public lecture on “Asia and the IMF”, by Dr Stanley Fischer, then first Deputy Managing Director of the IMF, on 1 June 2001

[MAS in the International Arena] [International Relations] [Anti -Money Laundering Efforts] [Information Exchange, Bilateral Dialogue] [International Policy Dialogue] [Global Free Trade and Agreements] [Relations with IMF] [Standard-Setting and Innovation]

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