For the first time, an Asian will lead the International Monetary Fund’s main advisory committee.
Singaporean Minister for Finance Tharman Shanmugaratnam has been selected as chairman of the International Monetary and Financial Committee. Tharman, who was previously a managing director of the Monetary Authority of Singapore, Singapore’s central bank and financial regulator, has accepted IMFC’s chairmanship for a term of up to three years.
Tharman succeeds Youssef Boutros-Ghali, who stepped down on Feb. 4 after serving since October 2008.
Earlier reports indicated that Tharman was favored over his South African counterpart, Pravin Gordhan, for the post.
>> IMFC Leadership: A Toss-up Between South Africa and Singapore Bets
IMFC, a 24-member body of finance ministers and central bank governors, is the primary advisory body of IMF’s board of governors. It decides on policy issues facing IMF.
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