Tharman Shanmugaratnam
Encyclopedia
Tharman Shanmugaratnam (Tamil
: தர்மன் சண்முகரத்தினம்) is a politician
from Singapore
. A member of the governing People's Action Party
(PAP), he is currently the country's Deputy Prime Minister, Minister for Finance
and Minister for Manpower
. He previously served as the Minister for Education
from 2003 to 2008. He has been a Member of Parliament
(MP) representing the Jurong Group Representation Constituency
since 2001.
n ancestry. He studied at Anglo-Chinese School
, and subsequently obtained a Bachelor's degree in Economics
from the London School of Economics
. He went on to gain a Master's degree in Economics from Cambridge University
, and a Master's degree in Public Administration
from Harvard University
where he received a Lucius N. Littauer
Fellow award for outstanding performance.
(MAS), Singapore's central bank and financial regulator, where he was the Director of Economics and eventually the Managing Director. He was awarded the Singapore Public Administration Gold Medal in 1999.
and the Ministry of Education
. He then served as Minister for Education between 2003 and 2008. In May 2006, he was also appointed to the post of Second Minister for Finance
.
In December 2007, Tharman was appointed Minister for Finance. He continued to concurrently hold the post of Minister for Education until March 2008.
In 2002, Tharman was appointed to the Central Executive Committee (CEC) of the PAP, and is currently its Assistant Treasurer. He has been elected to the CEC at each of the biennial Party conferences since then.
Following the 2011 general election, Tharman was appointed as one of two Deputy Prime Ministers of Singapore. He was also appointed as Minister for Manpower in addition to his role as Minister for Finance. His team in Jurong GRC won 66.96% of votes against the National Solidarity Party.
in June 2008. Also known as "The Consultative Group on International Economic and Monetary Affairs", the group has thirty members, with Paul Volcker as Chairman of its Board of Trustees.
In March 2011, Tharman was selected Chairman of the International Monetary and Financial Committee (IMFC), the policy steering committee of the IMF[4]. He was the first Asian to head the IMFC, coming after Dr. Youssef Boutros-Ghali
, Egypt’s former Minister of Finance, Tommaso Padoa-Schioppa, who had been Italy's Economy and Finance Minister, and Gordon Brown, U.K. Chancellor of the Exchequer, who chaired the committee for 8 years until he became PM.
In announcing his selection, the IMF said in a statement that his “broad experience, deep knowledge of economic and financial issues, and active engagement with global policy makers will be highly valuable to the IMFC.
Tharman is also Chairman of the Ong Teng Cheong Institute of Labour Studies, and Chairman of the Board of Trustees of the Singapore Indian Development Association (SINDA). He served for five years as Chairman of the Singapore-Liaoning Economic and Trade Council (SLETC), which was established to advance stronger links between Singapore and Liaoning Province, Ch
.
The OSA case, which stretched over more than a year, was reported extensively in the Singapore press. Tharman contested and was eventually acquitted of the charge of communicating the GDP growth flash projections. Senior District Judge Richard Magnus then introduced a lesser charge of negligence, because the prosecution's case was that the figures were seen on a document that he had with him at a meeting with the private economists which he had attended with one of his colleagues. Tharman contested this lesser charge too, and took to the witness stand for a few days.
The court nevertheless convicted him together with all the others in the case, including the editor of Business Times newspaper which published the figures. Tharman was fined S$1,500, and the others S$2,000. As there was no finding that he knowingly communicated any classified information, the case did not pose any hurdle to his subsequent appointment as the Managing Director of the Monetary Authority of Singapore.
of Chinese-Japanese parentage.
They have four children, three sons and one daughter. All of his children are of school-going age in their teens.
Tamil language
Tamil is a Dravidian language spoken predominantly by Tamil people of the Indian subcontinent. It has official status in the Indian state of Tamil Nadu and in the Indian union territory of Pondicherry. Tamil is also an official language of Sri Lanka and Singapore...
: தர்மன் சண்முகரத்தினம்) is a politician
Politician
A politician, political leader, or political figure is an individual who is involved in influencing public policy and decision making...
from Singapore
Singapore
Singapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...
. A member of the governing People's Action Party
People's Action Party
The People's Action Party is the leading political party in Singapore. It has been the city-state's ruling political party since 1959....
(PAP), he is currently the country's Deputy Prime Minister, Minister for Finance
Minister for Finance (Singapore)
The Minister for Finance is an appointment in the Cabinet of Singapore and heads the Ministry of Finance. Tharman Shanmugaratnam, who was Second Minister for Finance, took over the ministership on 2007-12-01 when Prime Minister Lee Hsien Loong relinquished the Finance post ....
and Minister for Manpower
Ministry of Manpower (Singapore)
The Ministry of Manpower is a ministry of the Government of Singapore that directs the formulation and implementation of policies related to manpower in Singapore.-Mission:...
. He previously served as the Minister for Education
Ministry of Education (Singapore)
The Ministry Of Education is a ministry of the Government of Singapore that directs the formulation and implementation of policies related to education in Singapore.-Statutory boards:...
from 2003 to 2008. He has been a Member of Parliament
Parliament of Singapore
The Parliament of the Republic of Singapore and the President jointly make up the legislature of Singapore. Parliament is unicameral and is made up of Members of Parliament who are elected, as well as Non-constituency Members of Parliament and Nominated Members of Parliament who are appointed...
(MP) representing the Jurong Group Representation Constituency
Jurong Group Representation Constituency
Jurong Group Representation Constituency is a five-member Group Representation Constituency located in the western area of Singapore. The GRC consists a large section of Jurong, sections of Bukit Batok and Upper Bukit Timah...
since 2001.
Early life
Tharman was born in 1957. He is of Sri LankaSri Lanka
Sri Lanka, officially the Democratic Socialist Republic of Sri Lanka is a country off the southern coast of the Indian subcontinent. Known until 1972 as Ceylon , Sri Lanka is an island surrounded by the Indian Ocean, the Gulf of Mannar and the Palk Strait, and lies in the vicinity of India and the...
n ancestry. He studied at Anglo-Chinese School
Anglo-Chinese School
The Anglo-Chinese School ; is a family of Methodist schools in Singapore, and Indonesia.The name is usually abbreviated as "ACS", with the junior college as "ACJC", and its students and alumni referred to as "ACSians" , or "ACS boys" .ACS was the first school...
, and subsequently obtained a Bachelor's degree in Economics
Economics
Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek from + , hence "rules of the house"...
from the London School of Economics
London School of Economics
The London School of Economics and Political Science is a public research university specialised in the social sciences located in London, United Kingdom, and a constituent college of the federal University of London...
. He went on to gain a Master's degree in Economics from Cambridge University
University of Cambridge
The University of Cambridge is a public research university located in Cambridge, United Kingdom. It is the second-oldest university in both the United Kingdom and the English-speaking world , and the seventh-oldest globally...
, and a Master's degree in Public Administration
Public administration
Public Administration houses the implementation of government policy and an academic discipline that studies this implementation and that prepares civil servants for this work. As a "field of inquiry with a diverse scope" its "fundamental goal.....
from Harvard University
Harvard University
Harvard University is a private Ivy League university located in Cambridge, Massachusetts, United States, established in 1636 by the Massachusetts legislature. Harvard is the oldest institution of higher learning in the United States and the first corporation chartered in the country...
where he received a Lucius N. Littauer
Lucius N. Littauer
-External links:...
Fellow award for outstanding performance.
Career
Much of Tharman's earlier professional career was spent at the Monetary Authority of SingaporeMonetary Authority of Singapore
The Monetary Authority of Singapore is Singapore's central bank and financial regulatory authority...
(MAS), Singapore's central bank and financial regulator, where he was the Director of Economics and eventually the Managing Director. He was awarded the Singapore Public Administration Gold Medal in 1999.
Political career
Upon entering politics in 2001, Tharman was appointed a Senior Minister of State in the Ministry of Trade and IndustryMinistry of Trade and Industry (Singapore)
The Ministry Of Trade and Industry is a ministry of the Government of Singapore that directs the formulation of policies related to the development of trade and industry in Singapore.-Mission:...
and the Ministry of Education
Ministry of Education (Singapore)
The Ministry Of Education is a ministry of the Government of Singapore that directs the formulation and implementation of policies related to education in Singapore.-Statutory boards:...
. He then served as Minister for Education between 2003 and 2008. In May 2006, he was also appointed to the post of Second Minister for Finance
Ministry of Finance (Singapore)
The Ministry of Finance , is a ministry of the Government of Singapore responsible for administering and regulating financial institutions and structures of the economy of Singapore. It is headed by the Minister for Finance...
.
In December 2007, Tharman was appointed Minister for Finance. He continued to concurrently hold the post of Minister for Education until March 2008.
In 2002, Tharman was appointed to the Central Executive Committee (CEC) of the PAP, and is currently its Assistant Treasurer. He has been elected to the CEC at each of the biennial Party conferences since then.
Following the 2011 general election, Tharman was appointed as one of two Deputy Prime Ministers of Singapore. He was also appointed as Minister for Manpower in addition to his role as Minister for Finance. His team in Jurong GRC won 66.96% of votes against the National Solidarity Party.
Other roles
Tharman was admitted to the Group of ThirtyGroup of Thirty
The Group of Thirty, often abbreviated to G30, is an international body of leading financiers and academics which 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...
in June 2008. Also known as "The Consultative Group on International Economic and Monetary Affairs", the group has thirty members, with Paul Volcker as Chairman of its Board of Trustees.
In March 2011, Tharman was selected Chairman of the International Monetary and Financial Committee (IMFC), the policy steering committee of the IMF[4]. He was the first Asian to head the IMFC, coming after Dr. Youssef Boutros-Ghali
Youssef Boutros Ghali
Youssef Raouf Boutros Ghali is a former Minister of Finance of Egypt. He served from 2004 to 2011. He was succeeded by Samir Radwan on 31 January 2011.-Education:...
, Egypt’s former Minister of Finance, Tommaso Padoa-Schioppa, who had been Italy's Economy and Finance Minister, and Gordon Brown, U.K. Chancellor of the Exchequer, who chaired the committee for 8 years until he became PM.
In announcing his selection, the IMF said in a statement that his “broad experience, deep knowledge of economic and financial issues, and active engagement with global policy makers will be highly valuable to the IMFC.
Tharman is also Chairman of the Ong Teng Cheong Institute of Labour Studies, and Chairman of the Board of Trustees of the Singapore Indian Development Association (SINDA). He served for five years as Chairman of the Singapore-Liaoning Economic and Trade Council (SLETC), which was established to advance stronger links between Singapore and Liaoning Province, Ch
Legal charge and conviction
While serving as economics director of the Monetary Authority of Singapore in 1993, Tharman was charged under the Official Secrets Act (OSA) in a case involving the release of Singapore's 1992 second-quarter flash projections to a research director, Mr Raymond Foo, and economist Manu Bhaskaran, of Crosby Securities, and to journalists Kenneth James and Patrick Daniel of the Business TimesBusiness Times (Singapore)
The Business Times of Singapore is an English-language newspaper published since 1 October 1976 . In 1 January 1994, it became the first English-language newspaper in Asia to launch an online news service called Business Times Online. It is part of the Singapore Press Holdings group.-External links:*...
.
The OSA case, which stretched over more than a year, was reported extensively in the Singapore press. Tharman contested and was eventually acquitted of the charge of communicating the GDP growth flash projections. Senior District Judge Richard Magnus then introduced a lesser charge of negligence, because the prosecution's case was that the figures were seen on a document that he had with him at a meeting with the private economists which he had attended with one of his colleagues. Tharman contested this lesser charge too, and took to the witness stand for a few days.
The court nevertheless convicted him together with all the others in the case, including the editor of Business Times newspaper which published the figures. Tharman was fined S$1,500, and the others S$2,000. As there was no finding that he knowingly communicated any classified information, the case did not pose any hurdle to his subsequent appointment as the Managing Director of the Monetary Authority of Singapore.
Private life
Tharman is married to Jane Yumiko Ittogi, a lawyerLawyer
A lawyer, according to Black's Law Dictionary, is "a person learned in the law; as an attorney, counsel or solicitor; a person who is practicing law." Law is the system of rules of conduct established by the sovereign government of a society to correct wrongs, maintain the stability of political...
of Chinese-Japanese parentage.
They have four children, three sons and one daughter. All of his children are of school-going age in their teens.