THE Treasurer, Wayne Swan, has been named the world's best finance minister for his work in steering Australia through the global financial crisis.

Last night, Mr Swan was named as the Euromoney Finance Minister of the Year for 2011 and will receive his award at a ceremony in Washington on Sunday at a meeting of the International Monetary Fund.

Good news at last ... Euromoney Finance Minister of the Year, Wayne Swan. Credit:Alex Ellinghausen

It is only the second time in the award's 30-year history that an Australian has won. The first was Paul Keating in 1984, earning him the title ''the world's greatest treasurer''.

In statement from London, the finance and banking publication Euromoney said ''Swan receives his award for his careful stewardship of Australia's finances and economic performance during and since the global financial crisis''.