Explainer: Why BoG governor was selected to Chair IMF and World Bank board

Explainer: Why BoG governor was selected to Chair IMF and World Bank board

- Ernest Addison has been selected to represent Ghana to Chair the Board of Governors of the Bretton Woods Institutions in 2020

- A statement from the central bank has revealed that he was selected due to his lead role in cleaning up the banking sector

- Also because of the country’s impressive strides in macroeconomic stability under Akufo-Addo's administration

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The Governor of the Bank of Ghana (BoG), Dr. Ernest Addison has been selected to represent Ghana to Chair the Board of Governors of the Bretton Woods Institutions in 2020.

Aside Ghana being known as a very stable country when it comes to the political climate, the cleanup in the banking sector has helped Ghana achieve an enviable feat.

A statement from the central bank revealed that the governor of the Bank of Ghana was selected to chair the International Monetary Fund (IMF) and the World Bank boards due to Dr. Addison’s lead role in cleaning up the banking sector.

READ ALSO: Explainer: Why government terminated PDS deal

Also, the statement added that the selection of Ghana was done in recognition of the country’s impressive strides, in macroeconomic stability.

This, the IMF believes was achieved under the administration of the President Akufo Addo.

He, however, is expected to chair the Joint Committee on Remuneration of Executive Directors and their Alternates .

This work entails the 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, Dr. Addison will Chair the Joint Procedures Committee (JPC)/MIGA Procedures Committee (MPC).

READ ALSO: Attempts were made to kill me after Limann handing over – Rawlings recounts

In other news, former President, Flt Lt Jerry John Rawlings has opened up about how his life was almost taken after he handed over power to Hilla Limann in 1979.

According to Rawlings, the attempts became so much that he was forced to leave Ghana for his own safety but he refused to do so.

Speaking at the 75th-anniversary celebration of the formation of the Mine Workers Union in Ghana, former President Rawlings alleged that Ghana’s Intelligence Agencies with support from the west wanted to bury him alive.

READ ALSO: Fire guts 54 shops in Kumasi central market; goods and properties destroyed

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Source: Yen Newspaper

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