Alvin Tan on motions for grants to support IMF trusts
The International Monetary Fund (IMF) is seeking contributions from economically stronger member countries to support its Poverty Reduction and Growth Trust. It has requested that Singapore contributes 21 million in Special Drawing Rights (SDRs), equivalent to US$28.6 million. This will be part of a multilateral effort and is commensurate with its quota share at the IMF, which stands at 0.82 per cent. For Sudan’s debt relief efforts, the IMF has requested 4.48 million in SDRs from Singapore, equivalent to about US$6.1 million, as part of a multilateral effort. Minister of State for Trade and Industry Alvin Tan moved the two motions on the IMF’s calls in parliament on Wednesday (Feb 4). With multilateralism under threat, Singapore should support multilateral institutions such as the IMF to help them to play their role in maintaining the stability of the global system, he said.
The International Monetary Fund (IMF) is seeking contributions from economically stronger member countries to support its Poverty Reduction and Growth Trust. It has requested that Singapore contributes 21 million in Special Drawing Rights (SDRs), equivalent to US$28.6 million. This will be part of a multilateral effort and is commensurate with its quota share at the IMF, which stands at 0.82 per cent. For Sudan’s debt relief efforts, the IMF has requested 4.48 million in SDRs from Singapore, equivalent to about US$6.1 million, as part of a multilateral effort. Minister of State for Trade and Industry Alvin Tan moved the two motions on the IMF’s calls in parliament on Wednesday (Feb 4). With multilateralism under threat, Singapore should support multilateral institutions such as the IMF to help them to play their role in maintaining the stability of the global system, he said.
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