IMFC extends term of Chairman Tharman Shanmugaratnam by one year
The International Monetary and Financial Committee (IMFC) has asked Singapore's Deputy Prime Minister Tharman Shanmugaratnam to extend his term as the committee's chairman for a year.
Mr Tharman, who's also Singapore's Finance Minister, has accepted the extension.
The IMFC is the policy advisory committee of the International Monetary Fund (IMF) and deliberates on the principal policy issues facing the IMF and the international monetary and financial system.
The IMFC has 24 members, comprising finance ministers and central bank governors.
Mr Tharman was appointed as chairman of the IMFC for a term of up to three years in March 2011, and was the first Asian to be appointed to the position.
With this extension, he will remain as the committee's chairman until 22 March 2015.
The members of the IMFC view Mr Tharman's strong leadership as valuable in the committee's deliberations.
And the continuity of his leadership in the year will help ensure that all members' views are taken into account, including with respect to significant ongoing reforms.
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