新加坡政府太有钱了，连IMF都看不下去了

freesoul99

IMF says Singapore needs to narrow current account surplus

* IMF warns of risk from rapid credit growth, high home prices
* Stress tests show risks to Singapore banks are manageable

By Kevin Lim

SINGAPORE, Nov 14 (Reuters) - Singapore needs to narrow its huge current account surplus further and the International Monetary Fund supports the government's plans to raise public spending on infrastructure and social services, the IMF said on Thursday.

"Singapore's external position appears to be stronger than warranted by fundamentals, suggesting the importance of further efforts to narrow the current account surplus over the medium
term," the IMF said on Thursday in its annual review of economic developments and policies in the wealthy Southeast Asian city-state.

A few IMF directors even felt Singapore should consider tightening monetary policy further by letting the local dollar rise at a faster pace to aid external rebalancing, the fund said.

The IMF, in a separate report, also said Singapore's financial regulation and supervision frameworks were among the best globally, with stress tests indicating its financial institutions would be able to cope in the event of adverse developments such as a sharp drop in property prices.

IMF carries out annual reviews of most member countries. In the case of systemically important jurisdictions such as Singapore, the fund also conducts a thorough financial sector assessment programme once every five years.

Singapore, unlike many developed economies, enjoys huge current account surpluses. This is partly due to the government routinely posting budget surpluses and its success in developing the city-state's wealth-management industry, which has attracted large capital inflows.

Singapore is also Asia's number one foreign exchange trading centre as well as a key Asian base for commodities traders and fund managers.

The island, which has a population of just 5.4 million people, enjoyed a current account surplus of $51.4 billion last year, which was a massive 18.6 percent of gross domestic product (GDP).

CREDIT, REAL ESTATE

The IMF, however, warned that Singapore needed to be wary of risks arising from the rapid growth of credit and real estate prices in recent years, noting the city-state's economy has become increasingly sensitive to macroeconomic shocks and interest rate cycles.

"Significant risks have built up under very low interest rates, but appear manageable, although confirmation will come only once the cycle has turned," the IMF said.

The IMF recommended that Singapore impose a countercyclical capital buffer on banks as well as step up its monitoring of banks' credit risks and foreign currency liquidity practices.

Other suggestions by the IMF include ensuring the city-state's banking industry "adequately contributes to the cost of resolving failed banks and further develop recovery plans for Singapore Exchange ".

Singapore has been grappling with higher-than-normal inflation in recent years as low global interest rates boosted property prices, even as ongoing measures to make it harder for firms to bring in cheap foreign workers pushed up the wages of lower-skilled residents.

The Monetary Authority of Singapore, the city-state's central bank, last month warned that core inflation was likely to accelerate in 2014 as it stuck to its tight monetary policy stance of allowing a "modest and gradual" appreciation of the local dollar.

The fund forecasts Singapore's core inflation will rise from 1.9 percent this year to 2.8 percent next year, which would make it the highest since 2008.  Core inflation excludes the cost of cars and accommodation since these are more influenced by government policy.  Home prices, however, have stabilised this year after a series of government measures to cool the housing market.

WAYNEWEI

期待分钱。。。。。。。

WAYNEWEI

最好按人口分，无论大人小孩。

墨渊

花钱容易挣钱难，跟苹果公司做法差不对吧

lainm

要用看待中国的话讲就是：
1. 辛苦血汗换来一堆美元草纸。
2. 有这么多外汇储备不晓得让自己的国民受惠，而是买美国国债借给美国人。
3. 新币对内贬值，对外升值，苦了百姓。

Jerry2020

lainm 发表于 15-11-2013 15:03
要用看待中国的话讲就是：
1. 辛苦血汗换来一堆美元草纸。
2. 有这么多外汇储备不晓得让自己的国民受惠，而 ...

有一定道理，一直存钱和投资，对国家可能是好事，对个人就可能不是好事，因为我们不是free hold，而是lease hold，到期后所有的一切都化为尘土，$100000000000000000000也毫无意义^_^

Timekiller

lainm 发表于 15-11-2013 15:03
要用看待中国的话讲就是：
1. 辛苦血汗换来一堆美元草纸。
2. 有这么多外汇储备不晓得让自己的国民受惠，而 ...

Timekiller

WAYNEWEI 发表于 15-11-2013 14:00
期待分钱。。。。。。。

不期待，肯定只有citizen分得到，没pr的鸟事。
这么说的话，新币升值预期，倒是可以期盼

alaincheong

新加坡政府欠太多钱了，问题是美国是欠其他国家，新加坡是欠人民。。。。
Singapore debt clock:
S$392,491,412,610

Interest per year:
S$8,306,338,745

Population:
5,353,494

GDP:
S$342,450,322,365

Interest per second:
S$263

Citizen's Share:
S$73,315

Debt as % of GDP:
114.61%