Wind down financial stimulus with care, says PM Lee at G-20 summit
The massive financial stimulus measures adopted by developed countries have boosted their economies, but these now have to be wound down with care, with countries taking steps to protect themselves from the side effects.
Singapore has done so through a series of policy steps, including several rounds of measures to cool the overheated property market, which had seen prices rise partly through the flow of cheap funds from abroad.
Prime Minister Lee Hsien Loong noted this yesterday, as he wrapped up his trip to St Petersburg, Russia, to attend the G-20 summit.
During the two-day summit, leaders voiced concerns about an over-rapid winding down of the huge US$85 billion (S$109 billion) a month bond-buying programme by the United States Federal Reserve.