Tag Archives: Declare

Government must disclose billions in CPF/GIC foreign exchange losses and market value of investments

The Singapore currency has been appreciating against almost all currencies during the last decade. As such, there are billions in unrealised forex losses. The government has tried very hard to prevent its disclosure. The PAP government would of course insists this is merely speculation. Why then doesn’t it quash the speculation with transparency at GIC? The answer is ‘it cannot’ because transparency will prove the above is not speculation!

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