Inflation may not yet have peaked, warns Finance Minister Singapore’s inflation rate, already at a 26-year high, may not have peaked and policy-makers must be ready to respond to unexpected economic developments, Finance Minister Tharman Shanmugaratnam said on Friday “It’s too early to say that inflation has peaked,” Mr Shanmugaratnam told reporters at a meeting of finance ministers from the...
US Recession Impact on Singapore Economy
Singapore's Minister Mentor Lee Kuan Yew said he is not certain what impact a possible US recession will have on Singapore. Although it is not clear whether financial markets will take up to two years to recover from the ordeal, Mr Lee said he feels that China and India may provide some cushion for the slowdown in the US. Asian stock markets took a beating early this week amid mounting concerns of a...
Singapore's Prime Minister Lee Hsien Loong said Singapore and Asia can weather the storm, should the US go into a recession. He made the comment at a breakfast meeting with 40 businessmen from the French Business Confederation as he wrapped up his three-day official visit to Paris. The financial markets in the West have been hit by the US sub-prime problems, and that in turn has affected Asia, including...