TL;DR – So good we HAVE to share.
Many times, he bore the great weight of multiple responsibilities upon his hefty shoulders. Just after the GE2011, when he was first appointed DPM, he triple-hatted! He was DPM, Minister of Finance and Minister of Manpower. Talk about agility and being multi-talented being the requisites for future-ready jobs, DPM is the epitome of adaptability!
But that wasn’t all. DPM Tharman didn’t just shoulder the heavy responsibility of being a political leader in Singapore. He has also represented Singapore on the global stage. Here are three occasions where his accomplishments on the global stage made us really proud to be Singaporeans:
Being Chairman of International Monetary Fund Committee (IMFC)
In 2011, DPM Tharman was appointed the chairman of IMFC. The IMFC advises and reports to the IMF Board of Governors on the supervision and management of the international monetary and financial system, including on responses to unfolding events that may disrupt the system. It has become a key instrument for providing strategic direction to the work and policies of the Fund. DPM Tharman was the first Asian to lead the IMFC.
Usually, each chairman serves a term of up to three years. But DPM Tharman did such a brilliant job that in 2014, when his term was supposed to be over, IMFC asked DPM Tharman to extend his term as chairman for one year.
When DPM Tharman finally stepped down, he was presented with a framed resolution of appreciation from the IMFC. In a communique, the IMFC expressed deep appreciation for Mr Tharman’s “service and guidance as IMFC chairman during challenging times”.
Finance Minister of the Year in 2013
Euromoney magazine is a global banking and finance publication. For more than three decades, it would name a finance minister of the year. In 2013, DPM Tharman was named the finance minister of the year. In its commendation, Euromoney said:
“Not content with resting on his laurels and relying on low taxes to attract foreign direct investment and business from Asia and elsewhere, finance minister Shanmugaratnam has spearheaded a push to find new sources of economic growth, while building a social safety net to address discontent over strained infrastructure and rising living costs.
There is universal consensus that there is no better policymaker than Shanmugaratnam to push through this domestic agenda, while actively crafting policies to ensure the city-state maintains its relevance amid competition from such rivals as Kuala Lumpur, Shanghai and Dubai.”
Euromoney’s decision was based on, amongst other things, views of the world’s leading bankers, and opinions of more than 400 economists. In other words, the world’s leading bankers and economists agreed that DPM Tharman was the best finance minister in 2013.
We couldn’t be prouder! Or so we thought… But oh, but wait, did DPM just better his own records yet again?
Chairman of G30 from 2017
The Group of Thirty, or commonly known as the G30, is an international body of leading financiers and academics. It aims to deepen understanding of economic and financial issues and to examine consequences of decisions made in the public and private sectors related to these issues.
From 1 Jan 2017, DPM Tharman will be the chairman of G30. He said:
“It will be a real privilege to succeed Jean-Claude Trichet, whose knowledge, wisdom and warmth have made him a role model for so many of us, in the G30 and beyond. I look forward to working closely with my colleagues in the Group as we continue to inform and influence dialogue within the global economic and financial community.”
Mr Jacob A Frenkel, the Chairman of the G30 Board of Trustees, said:
“We are confident that Tharman will successfully pursue the Group’s mission: to deepen understanding of key international economic and financial issues and, thereby, contribute to the quality of public policy decision making.”
So for the next five years, we will have to share the brilliance of DPM Tharman with the rest of the world. But we don’t mind. There’s enough of the great man to go around. And we are mighty proud of that.