24 March 2011

Singapore Takes Charge of Key IMF Board?

The members of International Monetary and Financial Committee ("IMFC"), the policy advisory committee of International Monetary Fund ("IMF"), selected Singapore's Minister for Finance Tharman Shanmugaratnam as Chairman of IMFC for a period of three years.  He succeeds Dr Youssef Boutros-Ghali, Egypt’s former Minister of Finance, who resigned on February 4, 2011.

IMF's press release was entitled "IMFC Selects Tharman Shanmugaratnam as New Chairman".

The Business Times report was entitled "Tharman to Head Key IMF Steering Committee".

The Straits Times report was puzzlingly entitled "Singapore Takes Charge of Key IMF Board".

The IMFC, comprising finance ministers and central bank governors, is the primary advisory body of the IMF Board of Governors and deliberates on the principal policy issues facing the IMF.

The appointment of Mr Tharman is a recognition of his experience and potential value to IMFC, but neither he nor Singapore has taken, or will take, charge of IMFC.


1.  "IMFC Selects Tharman Shanmugaratnam as New Chairman" International Monetary Fund (22 Mar 2011).

2.  "Tharman to Head Key IMF Steering Committee" The Business Times (23 Mar 2011).

3.  "Singapore Takes Charge of Key IMF Board" The Straits Times (23 Mar 2011).

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