SINGAPORE: It was announced in a Bloomberg report on Tuesday (Apr 18) that Mr Ravi Menon, who is the longest-serving head of the country’s central bank, the Monetary Authority of Singapore (MAS), will be stepping down from his position next month.
Mr Menon, who has been the head of MAS since 2011, is expected to be succeeded by one of his former deputies, Chia Der Jiun, a 16-year MAS veteran, after Mr Menon’s term ends on May 31.
Mr Chia is currently the Ministry of Manpower’s permanent secretary for development.
And while just two years ago, Mr Menon told Bloomberg News that he has “absolutely no intention to enter politics,” there’s already speculation online that a presidential candidacy may be in the cards for the MAS chief.
“Ravi Menon to leave MAS… just in time to be parachuted into the presidential elections? He’s said before that he doesn’t want to be a politician but arguably the president is not a politician…” wrote u/Milk_Savings on r/Singapore on Tuesday (Apr 18), the same day Bloomberg broke its story.
Such a career trajectory would not be so unusual in Singapore. Deputy Prime Minister Heng Swee Keat, once considered to be the successor of Prime Minister Lee Hsien Loong, had worked at MAS prior to entering politics.
Commenters on the Reddit post had nothing but praise for Mr Menon, appearing to find him more than qualified for the job.
Singapore’s presidential elections are scheduled to be held by Sept 13, 2023, and as the date approaches, the public may expect for candidates’ names to be floated. /TISG