Press Release: IMFC Selects Tharman Shanmugaratnam as New Chairman

IMF News, March 22, 2011

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Canonical URL: Press Release: IMFC Selects Tharman Shanmugaratnam as New Chairman

The members of the International Monetary and Financial Committee (IMFC) have selected Mr. Tharman Shanmugaratnam, Minister for Finance of Singapore, as Chairman of the Committee.
Minister Tharman succeeds Dr. Youssef Boutros-Ghali, Egypt’s former Minister of Finance, who resigned on February 4, 2011.
Minister Tharman has accepted the IMFC’s chairmanship for a term of up to three years.
Press Release No. 11/96; March 22, 2011.

Current role: Minister for Finance of Singapore since December 2007.
Earlier roles: Minister for Education.
Prior nonpolitical role: Managing Director of the Monetary Authority of Singapore (Singapore’s central bank and financial regulator).
Memberships: Member of the Group of Thirty.
Summary assessment from the release: “Minister Tharman’s broad experience, deep knowledge of economic and financial issues, and active engagement with global policy makers will be highly valuable to the IMFC.”

The IMFC is the primary advisory body of the IMF Board of Governors and deliberates on the principal policy issues facing the IMF.
Membership: The Committee has 24 members, reflecting the composition of the IMF Executive Board.
Appointment mechanism: Each member country that appoints, and each group of countries that elects, an Executive Director, appoints a member of the Committee.
Meeting frequency: The IMFC meets twice a year—in the spring and at the time of the IMF-World Bank Annual Meetings in the fall.
Next scheduled meeting (per the release): April 16, 2011 in Washington, D.C.

Press Release No. 11/96; March 22, 2011.