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Tharman Shanmugaratnam chaired the International Monetary and Financial Committee (IMFC) from 2011 to 2014. The IMFC is a committee of the International Monetary Fund (IMF) that advises the IMF on monetary and financial policies. Tharman was the first Asian to chair the IMFC. During his tenure, the IMFC focused on issues such as the global financial crisis, the European debt crisis, and the rise of China.