Top job for Lesetja Kganyago gives African countries sway at the IMF
Reserve Bank governor Lesetja Kganyago has been selected as the first sub-Saharan African to serve as chair of the International Monetary and Finance Committee. The chair is appointed by consensus. The three-year appointment is not only an impressive personal achievement, it is also a significant opportunity for SA and the African continent. The finance committee plays an important role in global economic governance. Its 24 members, who are ministers of finance and central bank governors, represent constituencies of the International Monetary Fund’s (IMF’s) board of governors. It meets twice a year to discuss an agenda prepared by the IMF’s managing director and the committee’s chair. Its mandate is to advise the board of governors, which is the IMF’s highest decision making body. The committee’s remit is to oversee the "supervision and management of the international monetary and financial system", and to provide strategic guidance to the IMF’s management and board. Kganyago is bec...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.