21 May '11, 5am

Early conclusion to selection process of IMF MD advantageous: Tharman

SINGAPORE: Singapore's Finance Minister Tharman Shanmugaratnam has called for an early conclusion to the selection process for a new Managing Director of the International Monetary Fund (IMF). In a statement on Saturday, he noted that the selection process for a new MD has begun, after the resignation of Mr Dominique Strauss-Kahn. Mr Tharman said Mr Strauss-Kahn's resignation comes after a critical period in the Fund's history, during which he led its effective response to the global financial crisis and carried through institutional reforms to strengthen the Fund's relevance in a new global economic environment. Mr Tharman, who is Chairman of the International Monetary and Financial Committee, said the challenges are pressing and an early conclusion to the selection process will be advantageous. He said it is also imperative that the process be open, transparent and merit...

Full article: http://www.channelnewsasia.com/stories/singaporelocalnews...

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