Tharman: Financial architecture and governance need to evolve to meet new realities

Singapore

THE current global financial architecture and governance have to evolve to meet new realities and future challenges, Deputy Prime Minister Tharman Shanmugaratnam, who chairs the G20 Eminent Persons Group on Global Financial Governance, said on Friday.

The group, established by G-20 finance ministers and central bank governors, will review the challenges and opportunities facing the international financial and monetary systems, and recommend practical reforms to improve the functioning of the global financial architecture and governance.