Supporting International Efforts
Singapore supported international efforts to strengthen the International Monetary Fund’s (IMF) resources and enhance its capacity to safeguard global financial stability and assist low-income countries
30 December 2020 and 31 March 2021
In December 2020, MAS renewed Singapore’s loan commitments to support international efforts to strengthen IMF resources amid the COVID-19 pandemic. The renewals of Singapore’s loan commitments to the IMF, totalling US$3.58 billion, will support multilateral efforts to strengthen the capacity of the IMF and enable the IMF to effectively play its role in safeguarding global economic and financial stability in response to the pandemic.
In March 2021, MAS announced that Singapore intends to join international efforts to enhance the capacity of the IMF to assist vulnerable low-income countries in dealing with the economic fallout from the pandemic. This will enable the IMF to support the surge in requests for financial assistance from these countries.
- MAS media release, published on 30 December 2020, on Singapore’s renewal of loan commitments to strengthen IMF resources amid COVID-19
- MAS media release, published on 31 March 2021, on Singapore joining international efforts to support IMF’s initiatives for vulnerable low-income countries impacted by COVID-19