Understanding Singapore's Foreign Reserves

About this episode

Leong Mun Wai discusses Singapore's financial reserves and the implications of the recent Monetary Authority of Singapore (Amendment) Bill with PJ Thum.

Leong Mun Wai is a Non-constituency Member of Parliament for the Progress Singapore Party and the CEO of private equity firm, Timbre Capital. He explains to PJ Thum about Singapore's financial reserves, where it comes from, and how it is spent. They talk about the need for more transparency and accountability over how it is spent, and the inherently political nature of the trade offs between saving Singaporean income and investing it in social welfare and Singapore's future. They also talk about the recent Monetary Authority of Singapore (Amendment) Bill, how it suggests a loosening of financial discipline and responsibility, and why it is potentially very troubling for Singapore. Leong's speech in Parliament on the Monetary Authority of Singapore (Amendment) Bill can be found here .

People in this episode

Host: PJ Thum

Guest: Leong Mun Wai

Topics covered

• Singapore's foreign reserves
• financial transparency
• political accountability
• social welfare
• Monetary Authority of Singapore

Keywords

• Singapore
• foreign reserves
• financial discipline
• social welfare
• politics
• transparency
• accountability

Mentioned in this episode

Organizations: Progress Singapore Party, Timbre Capital, Monetary Authority of Singapore

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