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Expert advice from council

President Nathan said he is not rubber stamping the deposit guarantee move, backed by government reserves. -ST

Thu, Nov 06, 2008
The Straits Times

By Goh Chin Lian, In Kuwait City

IN MAKING any decision to draw on the reserves of the Singapore Government, the President can get expert advice from his six-member council of advisors, President SR Nathan said here.

He said in respose to a question that members of the Council of Presidential Advisers are all well-informed about the economy and financial matters.

Last month's $150 billion bank guarantee package was the first time the Government called on the President to exercise his custodial powers over the nation's reserves.

 


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