Lee Kuan Yew Dead: World Leaders Pay Tribute as Singapore's Founding Father Dies Aged 91

Former Singaporean Prime Minister Lee Kuan Yew, widely respected as the economic architect who transformed the former British outpost into a trade and finance powerhouse, died on Monday at the age of 91.

Singapore's strongman who dominated the country's politics for over three decades "passed away peacefully at the Singapore General Hospital today at 3:18 a.m.," the Singaporean government said.

Lee had been under intensive care for pneumonia since early February, The Wall Street Journal reported.

Singapore's government immediately declared a week of national mourning starting on Monday. A state funeral for Lee will be held on March 29.

"He fought for our independence, built a nation where there was none, and made us proud to be Singaporeans. We won't see another man like him," said his son, Prime Minister Lee Hsien Loong, in a televised address.

Although criticized for his iron grip, it was under Lee's direction that Singapore rose to First World country status from its former Third World label in hardly more than one generation. Lee helped Singapore gain huge investments and attract the world's biggest firms through his core principles, which include a "focus on clean and efficient government, business-friendly economic policies, and social order," said the Wall Street Journal.

U.S. President Obama said in a statement that he "was deeply saddened" to learn of the death of Lee, whom he described as "a true giant of history who will be remembered for generations to come as the father of modern Singapore and as one the great strategists of Asian affairs."

"On behalf of the American people, Michelle and I offer our deepest condolences to the Lee family and join the people of Singapore in mourning the loss of this remarkable man. A visionary who led his country from Singapore's independence in 1965 to build one of the most prosperous countries in the world today, he was a devoted public servant and a remarkable leader," he said.

Prime Minister David Cameron said Lee "was always a friend to Britain, if sometimes a critical one, and many British Prime Ministers benefited from his wise advice, including me."

He added: "Lady Thatcher once said that there was no Prime Minister she admired more than Mr. Lee for 'the strength of his convictions, the clarity of his views, the directness of his speech and his vision of the way ahead'. His place in history is assured, as a leader and as one of the modern world's foremost statesmen."

Japanese Prime Minister Shinzo Abe said Lee was "a great Asian leader who laid the foundation for the prosperity of Singapore today."

China's Ministry of Foreign Affairs also sent their condolences, describing Lee as a "strategist with Oriental values and international perspectives."

"He was the creator and founder of China-Singapore bilateral relations and promoted the long-term mutually beneficial cooperation for the two countries, made historical contributions for the establishment and developmentof the two nations," the Chinese statement said.

U.N. Secretary General Ban Ki-moon said in a statement that Lee was "a legendary figure in Asia."

"As Singapore marks its 50th anniversary of independence this year, its founding father will be remembered as one of the most inspiring Asian leaders," said the top U.N. official.

"The Secretary-General is grateful for the strong cooperation between the Government of Singapore and the United Nations, and looks forward to deepening this partnership," he added.