Tharman receives leadership award for contributions to global finance

Senior Minister Tharman Shamugaratnam. (FILE PHOTO: Dhany Osman / Yahoo News Singapore)

SINGAPORE — Senior Minister and Coordinating Minister for Social Policies Tharman Shanmugaratnam has been given a leadership award by the Washington-based Institute of International Finance (IIF).

Alongside Bank of England Governor Mark Carney, the 62-year-old is one of the inaugural recipients of the IIF’s Distinguished Leadership and Service Award.

According to the IIF website, the award was created to recognise individuals who have made distinguished and sustained contributions to the health of the global economy and financial system through their leadership.

‘Visionary’ and ‘world class public servant’

The IIF is the global association of the financial industry. In a statement released on Thursday (17 October), IIF president and chief executive officer Timothy D. Adams, hailed Tharman as a “visionary” and a “world class public servant”.

“Tharman has been a leading proponent of global reforms to derisk and grow development finance, and to achieve more resilient capital flows,” said Adams.

“His ability to see around the corner and consider both the economic implications and the possibilities from a central banker’s lens provides a unique and highly valuable perspective in our ever-evolving and increasingly digital world.”

He added, “Governor Carney and Senior Minister Tharman are two of the brightest and most capable people I’ve had the honour to work with. The success and stability of today’s international financial system would not be possible without their foresight and steady hands.”

Led G20 group on global financial governance

Tharman, who is also chairman of the Monetary Authority of Singapore, previously led the G20 Eminent Persons Group on Global Financial Governance. He has also served as Deputy Prime Minister, Minister for Finance, and Minister for Education.

The senior minister is currently in Washington for the annual meetings of the World Bank Group and the International Monetary Fund.

In a 2016 poll commissioned by Yahoo News Singapore, 69 per cent of respondents said he was their choice to succeed Lee Hsien Loong as Prime Minister.


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