Wayne Swan – World Treasurer of 2011



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The World’s Greatest Treasurer has been announced for 2011 and the recognition this year goes to Australia’s Wayne Swan.

The award for the world’s finance minister of the year, given by the banking magazine Euromoney, was for his judgment in steering the Australian economy through the global financial crisis and guiding a strong recovery.

I recall many discussions however, during that period, when it was said that anyone could have done that job, due to the massive surplus that was available for him to spend.

It raises the question… If Australia had been in the same financial position as the other countries, would the result have been the same?

Some comments have indicated that Australia did in fact deserved this award, but giving the main credit to the previous government, with Peter Costello as the treasurer, for creating an economy that was able to survive this Global Financial Crisis (GFC).

 


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Wayne Swan joins previous winners of this Award:

  • 2010 World Finance Minister – Alexei Kudrin, Russia
  • 2009 World Finance Minister – Jim Flaherty, Canada
  • 2008 World Finance Minister – Xie Xuren, China.
  • 2007 World Finance Minister – Mladjan Dinkic, Serbia
  • 2006 World Finance Minister – Dr Sri Mulyani Indrawati, Indonesia
  • 2005 World Finance Minister – Ngozi Okonjo-Iweala, Nigeria
  • 2004 World Finance Minister – Ivan Miklos, Slovakia
  • 2003 World Finance Minister – Ibrahim bin Abdulaziz Al-Assaf, Saudi Arabia
  • 2002 World Finance Minister – Milen Veltchev, Bulgaria
  • 2001 World Finance Minister – Shaukat Aziz, Pakistan
  • 2000 World Finance Minister – Brigita SchmÇôgnerovÇ, Slovakia

Australia’s previous change of government Surplus-Debts.

  • Paul Keating (Treasurer: 1983 – 1991) inherited a $10 billion deficit, from John Howard.
  • Peter Costello (Treasurer: 1996 – Dec 2007) inherited a $90 billion deficit, from Ralph Willis.
  • Wayne Swan (Treasurer: Dec 2007 – ) inherited a $17 billion SURPLUS from Peter Costello.

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