DPM Tharman to extend chairmanship of IMF policy steering committee by another year

Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam arrives at the Parliament House on Feb 25, 2013. Mr Shanmugaratnam has extended his term as chairman of the International Monetary Fund's (IMF) policy steering committee by another yea
Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam arrives at the Parliament House on Feb 25, 2013. Mr Shanmugaratnam has extended his term as chairman of the International Monetary Fund's (IMF) policy steering committee by another year. -- ST FILE PHOTO: JOHARI RAHMAT

Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam has been asked by the International Monetary Fund's (IMF) policy steering committee to extend his term as chairman by another year.

Mr Tharman was due to conclude his existing term as chair of the International Monetary and Financial Committee on March 22 next year but has accepted the extension, the IMF said in a statement on Wednesday.

It added that the committee views Mr Tharman's "strong leadership as valuable in the committee's deliberations". His retention of the role will also be "particularly helpful in ensuring that all members' views are taken into account, including with respect to significant ongoing reforms".

Mr Tharman was appointed the International Monetary and Financial Committee's chairman in 2011 for a term of up to three years.

The committee, which comprises finance ministers and central bank governors, advises the IMF on policy. It meets twice a year to discuss the principal policy issues facing the IMF and the international monetary and financial system.