International Cooperation

Parliament passes the Bretton Woods Agreement (Amendment) Act

8 May 2023

The amendments to the Bretton Woods Agreements Act allow MAS to meet its commitments to the International Monetary Fund (IMF) on behalf of the Government of Singapore, while maintaining the intent of the existing safeguards that ensure the proper exercise of MAS’ powers in relation to the provision of loans, grants or other financial assistance to the IMF.

19th Joint Council for Bilateral Cooperation (JCBC)

7 December 2023

The JCBC is the annual high level bilateral platform to oversee and provide direction to Singapore-China cooperation. At the 19th JCBC in Tianjin, MAS announced new digital finance and capital markets initiatives to enhance financial cooperation with China. These include the announcement of the cross-border e-CNY Pilot between China and Singapore and the launch of the Exchange Traded Funds Product Link between the Singapore Exchange and Shanghai Stock Exchange.

ASEAN Taxonomy

27 March 2024

An initiative under the purview of the ASEAN Taxonomy Board (ATB), the ASEAN Taxonomy Version 3 comprised refinements to the assessment methods for the “Do No Significant Harm” essential criteria and the technical screening criteria for two more focus sectors, namely Transportation and Storage and Construction and Real Estate under the Plus Standard. This followed Version 1 published on 1 November 2021 which set out the overall framework for the ASEAN Taxonomy, and Version 2 published on 19 February 2024 which covered detailed methodologies for assessing economic activities, and technical screening criteria for the energy sector. The ASEAN Taxonomy serves as an overarching guide for ASEAN Member States to effectively orient capital towards a more sustainable and resilient ASEAN, and MAS is represented on the ATB.