This report said that MAS recorded a net loss of $10.9 billion due to the strong Singapore dollar. We need to study if this is only part of the truth or the whole truth. How much of the loss is attributable to the strong Singapore dollar? How much of the loss is caused by excessive speculation or trading (if any)? .
It is important for the President to ask these questions, get the answers from MAS and be able to interpret these answers. This will improve accountability and engender trust in our institutions. In an earlier statement, I said that our reserves should be invested prudently, to achieve a reasonable return over the long term and avoid speculation.
It is important for the President to ask these questions, get the answers from MAS and be able to interpret these answers. This will improve accountability and engender trust in our institutions. In an earlier statement, I said that our reserves should be invested prudently, to achieve a reasonable return over the long term and avoid speculation.
