IMF Staff Country Reports

Singapore: Selected Issues

May 5, 1999

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Singapore: Selected Issues, (USA: International Monetary Fund, 1999) accessed September 27, 2024

Summary

This Selected Issues paper presents a background and recent policy developments for Singapore’s financial sector. The paper highlights that in 1968, important tax and regulatory incentives were introduced to attract foreign investment in the financial sector and boost financial sector activity. In particular, the government catalyzed the development of Asian Currency Units (ACUs) by exempting nonresident depositors from withholding tax on ACU deposits. The paper also examines the impact of the external environment on economic activity in Singapore. Competitiveness issues are also discussed.

Subject: Balance of payments, Banking, Economic sectors, Export performance, Exports, Financial sector, Foreign direct investment, Foreign exchange, International trade, Real exchange rates

Keywords: Bank disclosure, Banking sector, Bond market, CR, Excess demand, Export performance, Exports, Financial sector, Foreign direct investment, Foreign direct investment, Global, ISCR, Market share, Real exchange rates

Publication Details

  • Pages:

    25

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Country Report No. 1999/035

  • Stock No:

    1SGPEA0011999

  • ISBN:

    9781451834178

  • ISSN:

    1934-7685

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