Reserves of the Government of Singapore in the context of "Financial stability"

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⭐ Core Definition: Reserves of the Government of Singapore

The reserves of the Government of Singapore are the investment assets of the Singaporean state, including those of Ministry of Finance and the Statutory Boards, the Monetary Authority of Singapore, GIC Private Limited (GIC), and Temasek Holdings.

In constitutional terms, the Past Reserves as a legal term refers to such reserves as existed before the sitting government came into office (the most recent handover being 23 May 2025). The president's discretion to withhold access to the Past Reserves is intended as a "second key" to ensure financial stability and restrain waste of the reserves.

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Reserves of the Government of Singapore in the context of President of Singapore

The president of Singapore, officially the President of the Republic of Singapore, is the head of state of Singapore. The president represents the country in official diplomatic functions and possesses certain executive powers over the government of Singapore, including the control of the national reserves and the ability to revoke and appoint public service appointments.

After Singapore achieved full internal self-governance from the British Empire in 1959, the ceremonial office of the Yang di-Pertuan Negara (lit.'Lord of the State') was created, where it was first held by the governor of Singapore William Goode. The office was later succeeded by the president of Singapore following Singapore's independence from Malaysia in 1965. The initial role of the president was predominantly a ceremonial institution, serving as the representative of the Singaporean state both at home and abroad. It carried limited residual powers, and prior to 1991, the president was solely appointed by the parliament of Singapore. Singapore follows a non-executive model of the Westminster parliamentary system whereby the president is not the head of government but rather the head of state; these powers are instead vested in the Cabinet, which is led by the prime minister.

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