Governor of the Bank of Ghana Dr Ernest Yedu Addison has been selected to represent Ghana to Chair Board of Governors of the IMF and World Bank in 2020.
A statement from the Bank of Ghana explained that the selection of Governor of the Bank of Ghana was done in recognition of the country’s impressive strides in macroeconomic stability achieved and the banking sector clean-up for the past years.
At the 2019 Annual Plenary meetings of the International Monetary Fund (IMF) and the World Bank Group held on Friday, Governor of the Bank of Ghana was selected as the in-coming 2020 Chair of the Board of Governors of the Institutions.
The Chairmanship is selected on a regional rotation basis each year and it is Africa’s turn in 2020.
Through a meticulous process of selection where candidate’s competences, country’s standing and membership of the World Bank Group and IMF are assessed, Dr Addison, who is also Ghana’s IMF Governor was selected to preside over the 2020 Annual Meetings Plenary.
The statement added that, the Chairmanship position is prestigious and positively projects Ghana’s image within the international community.
“With this new responsibility, Governor of the Bank of Ghana will among other duties, chair other functional Committees of the two institutions”.
In particular, he will chair the Joint Committee on Remuneration of Executive Directors and their Alternates . This work entails appointment of two other Committee members which will be on the recommendation of the President of the Bank and the Managing Director of the Fund, reviewing briefing papers, and convening meetings of the Committee.
In addition, Governor Addison will Chair the Joint Procedures Committee (JPC)/MIGA Procedures Committee (MPC). The JPC/MPC is charged with reviewing the official business of the FundBank and recommending its approval to the Board of Governors.
Furthermore, he will conduct the 2020 Annual Meetings Plenary (in the presence of delegations from the 189-member countries), and presentation of a speech on the global economy.
Ghana Talks Business takes the opportunity to congratulate Dr Addison on his appointment. We hope his performance will be exceptional. to enhance the confidence placed in him, and to project a better image of Ghana.