Singapore wins finance events

SINGAPORE Singapore has signed a memorandum of understanding with the International Monetary Fund and the World Bank Group to host the 2006 boards of governors annual meetings of the finance bodies. The venue will be the Suntec Singapore International Convention and Exhibition Centre. The memorandum was signed in Dubai, where the 58th annual meetings ended last month with more than 25,000 delegates in attendance. They will comprise finance ministers, central bank governors from 184 member nations of both institutions, representatives from commercial banks and spouses. A Monetary Authority of Singapore press statement said Singapore was chosen as the host of the 2006 Annual Meetings is recognition of the progress made in the development of its financial sector, its pro-business environment and excellent infrastructure. "We look forward to hosting the 2006 Annual Meetings," Singapore's second minister for finance and minister in the prime minister's office Mr Lim Hng Kiang said. "The global financial landscape has changed significantly over the past five years," Mr Lim added. The Singapore 2006 Planning Team was recently in Dubai to study the facilities and logistical aspects of hosting the finance event. The team said it was impressed with how well the host country of this year's event managed and executed the event.