Finance Minister Lawrence Wong meets with U.S. Treasury Undersecretary, Trade Representative and World Bank Group President – Mothership.SG

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The Secretary’s US Deputy Treasurer, Wally Adeyemo, met with Finance Minister Lawrence Wong during the latter’s trip to the United States.

The director of the Monetary Authority of Singapore (MAS), Ravi Menon, was also present. According to a reading from the US Treasury Department, the meeting took place on April 19.

Thanked Singapore for ‘strong action’ in imposing sanctions on Russia

Issues discussed at the meeting included views on regional economic issues and areas of bilateral collaboration, as well as sustainable finance.

In addition, Adeyemo congratulated Wong and Ravi on Singapore’s assumption of the Financial Action Task Force (FATF) chair in July and expressed support for their priorities.

He also thanked Wong and Ravi for Singapore’s “strong action” in imposing financial sanctions and export controls on Russia, and stressed the need for the international community to continue to impose costs on the invasion of Ukraine by the Kremlin and violation of its sovereignty.

The meeting between Adeyemo, Wong and Ravi, follows several recent high-level meetings between the US Treasury Department and the Singapore government, including one Meet last month between Prime Minister Lee Hsien Loong and Treasury Secretary Janet Yellen.

Part of Wong’s meetings with US officials

Wong said in a Facebook post on April 19 (Singapore time) that he had started meetings with international and US officials.

He highlighted his meetings with World Bank Group President David Malpass and his senior management team, as well as US Trade Representative Katherine Tai.

Regarding his meeting with Malpass, Wong said he discussed the World Bank’s work in sustainable finance.

Wong pointed out, “Many projects in Asia need private funding and government support to get started. Singapore and the World Bank have been active in this area. We discussed how the World Bank’s Singapore hub can use our ecosystem funding to promote a greener recovery for the Asian region.

As for his meeting with Tai, Wong said their discussions focused on new models of economic and trade cooperation, and the importance of deeper and more substantial US engagement in the region, through the Indo-Pacific economic framework. .

He added: “Trade is the lifeblood of Singapore – our trade with the world is about three times our GDP.

Wong is currently in the United States for a 10-day trip that will see him attend the World Bank and IMF Spring Meetings, as well as the second meeting of Finance Ministers and Central Bank Governors (FMCBG) under Indonesia’s 2022 G20 Presidency, among others.

Wong also gave a speech at the Peterson Institute for International Economics in Washington DC on April 18 regarding inflation.

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Collage top, left photo via US Treasury Department Facebook, right photo via Lawrence Wong Facebook

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