SINGAPORE - In her six years as the President of Singapore, Madam Halimah Yacob gave her assent to 11 Budgets, and concurred to five drawdowns on the past reserves.
“You’ve got to be... really sure that this will help Singaporeans, and that this is a really exceptional and dire situation that we are faced with.” Two keys guard Singapore’s reserves, with the Government holding the first one. The president wields the second, and must agree before the Government can dip into the reserves.She had “no difficulty” convincing herself that the situation was grave and that people would need help, she says.
There were also the informal briefings by Prime Minister Lee Hsien Loong, where she was told there would beThe seriousness of the situation facing Singapore was indisputable, but still, questions had to be asked.Recalling the many meetings and discussions held over the drawdowns and the Budgets during the pandemic, Madam Halimah says: “We needed to hear from them, because it’s for the Government to come and justify to us why they need to draw down the reserves, and so that was what we had.
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