SINGAPORE: Singapore's Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam has congratulated French Finance Minister Christine Lagarde on her appointment as Managing Director of the International Monetary Fund (IMF).
In a statement, Mr Tharman said he is confident that Ms Lagarde will lead the IMF with a clear sense of purpose, ensure that it preserves the independence it needs to sustain its effectiveness, and promote a spirit of consensus that cuts across the IMF membership.
Mr Tharman, who is also Chairman of the International Monetary and Financial Committee (IMFC), said he had spoken with Ms Lagarde and they agreed on the importance of continued reforms to the governance of the IMF, so as to reflect the evolving balance in the global economy and financial system.
This includes securing full implementation of the 2010 reforms and pressing ahead with the review of the quota formula that will commence before the Annual Meetings in September this year.
Mr Tharman added that they also discussed the need for the IMF to work with its partners to address immediate threats to financial stability and contain their potential repercussions to the global economy.
He said beyond these immediate challenges, they agreed that the IMF and the IMFC will work to strengthen the multilateral surveillance process and, over the longer term, reform the international monetary system.
- CNA/de
In a statement, Mr Tharman said he is confident that Ms Lagarde will lead the IMF with a clear sense of purpose, ensure that it preserves the independence it needs to sustain its effectiveness, and promote a spirit of consensus that cuts across the IMF membership.
Mr Tharman, who is also Chairman of the International Monetary and Financial Committee (IMFC), said he had spoken with Ms Lagarde and they agreed on the importance of continued reforms to the governance of the IMF, so as to reflect the evolving balance in the global economy and financial system.
This includes securing full implementation of the 2010 reforms and pressing ahead with the review of the quota formula that will commence before the Annual Meetings in September this year.
Mr Tharman added that they also discussed the need for the IMF to work with its partners to address immediate threats to financial stability and contain their potential repercussions to the global economy.
He said beyond these immediate challenges, they agreed that the IMF and the IMFC will work to strengthen the multilateral surveillance process and, over the longer term, reform the international monetary system.
- CNA/de
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