After Mauricio Macri took power in Argentina at the end of last year, finance minister Alfonso Prat-Gay scored a number of quick and important wins. He settled with the holdout bond investors, removed FX restrictions and started to tackle inflation. But now he faces his toughest challenge – tackling the fiscal deficit.

Argentina’s Prat-Gay named Euromoney Finance Minister of the Year 2016.

Argentina’s ground-breaking return to the bond markets captured the headlines, but finance minister Alfonso Prat-Gay’s credibility and rapid reactions have played a vital role in its restored standing.

Mauricio Cárdenas, Colombia’s finance minister, has been named Euromoney’s Finance Minister of the Year for 2015.

Mauricio Cárdenas’ fiscal credibility and investment plans have bolstered the country’s defences amid the emerging market rout, while boasting the best economic growth in the region.

1981 Turgut Özal of Turkey

Mexico’s finance minister is the rarest of breeds in the current global economy. He is delivering reform-driven economic growth

Tharman Shanmugaratnam, the finance minister of Singapore, has been named Euromoney’s Finance Minister of the Year 2013.

Tharman Shanmugaratnam, the finance minister of Singapore, has been named Euromoney’s Finance Minister of the Year 2013.

Singapore is shifting its growth model from population-driven to productivity-driven expansion, while maintaining its status as an innovative trade and financial-services hub to diversified export markets. Finance minister Tharman Shanmugaratnam has played an overarching role in the city-state’s economy and serves as the region’s statesman on the international stage.

Cesar Purisima, the finance minister of the Philippines, has been named as Euromoney's Finance Minister of the Year for 2012.

Confidence in the Philippines’ economy among the international financial community has never been better, and finance secretary Cesar Purisima has played a key role – tackling the country’s problems and improving its finances.

Australia has struck it rich, and lucky, as it has used its natural resources to benefit from the China spending boom. But the careful stewardship of its treasurer, Wayne Swan, has played a key role in making it the best-performing economy among the world’s richer, developed nations. Not that he is likely to get much credit at home, as Eric Ellis reports.

Russia’s finance minister, Alexei Kudrin, steered the country through the global financial crisis. The country emerged not just intact, but enhanced in the eyes of global investors. Now Kudrin faces perhaps his biggest battle of all – keeping a firm hold on spending as an election approaches. By Miriam Elder in Moscow.

The finance minister has enhanced his country’s reputation for sound fiscal policy that takes full account of social justice, while a strong regulatory regime has kept the financial sector out of the chaos. Helen Avery reports.

China’s finance minister has had a difficult first 12 months in charge, but has succeeded in maintaining the country’s economic momentum.

Serbia’s minister of the economy and former finance minister is uncompromising – and his approach has been crucial to the revival of his country’s economic fortunes.

Indonesia’s young finance minister has made some key decisions since her appointment, winning many friends abroad. Some tough challenges lie ahead; to meet them, Mulyani will need to win more friends at home. Chris Leahy reports.

In just two years, Nigeria's finance minister has helped to transform foreign perceptions of her country. Her crowning achievement was the Paris Club deal, but her reforms have much greater implications for Nigeria's economic future.

Slovakia boasts the fastest growth rate in central and eastern Europe as it turns from regional laggard to leader. It has boosted growth, controlled government spending and attracted FDI with a tax policy some of its larger neighbours dislike. They won't intimidate finance minister Ivan Miklos.

Ibrahim bin Abdulaziz Al-Assaf, Saudi Arabia's minister of finance and national economy since 1996, has steered the economy through a difficult period. He has played a leading role in the modernization, diversification and liberalization of the Saudi economy and managed its finances prudently in a period in which oil prices have swung between $10 and $30 a barrel. Al-Assaf, a 54-year old economist who has served as the country's executive director at the World Bank for six years and as vice-governor of the Saudi Arabian Monetary Agency (Sama) and wins Euromoney's finance minister of the year award for 2003, spoke to Nigel Dudley in his office in Riyadh.

When investment bankers decide it is time to leave their industry, many take extended leave or choose to retire altogether. Milen Veltchev went straight to being Bulgaria’s finance minister.

If ever a finance minister was in the firing line, Shaukat Aziz is that man. The 30-year veteran of Citibank is saddled with the task of selling yet another military government in Pakistan to a sceptical international investor community.

Protests against her austerity package and calls for her resignation have failed to stop Brigita Schmögnerovà from doing the most exciting job she has ever had. By Jonathan Brown.

Plummeting oil prices, turmoil in world markets and natural disasters: José Angel Gurría's first months as Mexico's finance secretary were a baptism of fire. But his legendary powers of persuasion enabled him to make vital budget cuts to keep Mexico on track. By Brian Caplen

Long, long ago, when half the world was ruled by men who still believed in state control of the economy, Poland took the gamble of letting the market decide the price of goods. That dose of shock therapy in 1989 became a model for eastern Europe. The man who imposed it became one of the region's leading economic thinkers. Now he is back at the helm of the Polish economy. James Rutter talks to Leszek Balcerowicz about history, movies and the trials of coalition government.

Since Anatoly Chubais became finance minister, Russia's stock has risen dramatically. The architect of privatization is now pushing ahead with wide-ranging economic reforms, to the delight of the international community.

Robert Rubin, secretary of the US treasury, has faced tough situations and made tough decisions. In a remarkably short time, he dealt with the Mexico crisis and put the dollar back on course, demonstrating a rare grasp of both domestic politics and global markets. By Katharine Morton