Business

DPM Tharman heads G20 study


Deputy Prime Minister Tharman Shanmugaratnam said yesterday that an international group of top economists and leaders he chairs will consult widely and think deeply over how the global financial system can evolve to meet new challenges.

Mr Tharman, 59, was appointed chairman of the new G-20 Eminent Persons Group on global financial governance in April. The announcement came at a meeting of a group of 20 finance ministers and central bank governors.

The group was tasked with reviewing issues relating to global financial governance, in particular, the work of international finance institutions - which include the International Monetary Fund and multilateral development banks such as the World Bank Group and regional development banks.

"The group brings together considerable experience from around the world," Mr Tharman said yesterday. "We will consult widely, think deeply and propose how the system of international financial institutions should evolve to meet the challenges of a new era," he said.

The other 15 members in the group, announced yesterday, comprise prominent names in the world of finance. The members, who come from across the globe, collectively have deep knowledge and a broad diversity of experiences. Each will contribute in their personal capacity, the statement added.

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