Finance minister promoted to deputy PM

Tharman Shanmugaratnam retains his finmin position as three ministers retire from the Cabinet.

The government said 11 of the 14 ministries will have a new minister in charge. The new Cabinet line-up was unveiled following the retirement of Deputy Prime Minister Wong Kan Seng, National Development Minister Mah Bow Tan, and Transport Minister Raymond Lim.

Tharman is currently chairman of the International Monetary Fund's International Monetary and Financial Committee.

View the full report by Reuters.

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