18 January 2018

South Africa: ANC Congratulates SA Reserve Bank Governor Mr. Lesetja Kganyago On Appointment As Chair of the Intrnational Monetary and Financial Committee of the International Monetary Fund (Imfc)

press release

The African National Congress (ANC) congratulates the Governor of the South African Reserve Bank (SARB) Mr. Lesetja Kganyago on his appointment as the new chairperson of the International Monetary Fund's (IMF) International Monetary and Financial Committee.

The transformation of international financial institutions such as the IMF and the World Bank in order to give a greater voice to emerging economies and at the same time advance development friendly global multilateral trade regimes; has long been a cornerstone of the ANC's International Relations policy. To this end, it is crucial that there is greater representation of developing countries across the management structures of these important institutions.

Mr. Kganyago is the first IMFC Chair from the Sub-Saharan African region. His appointment is a resounding affirmation of a global confidence in South Africa's financial institutions. The IMFC provides strategic direction to and makes decisions on crucial matters involving the international monetary and financial system and the ANC hopes he will leverage this appointment to ensure that the voices of developing countries are always taken into account in decision-making.

Mr. Kganyago already serves as South Africa's Alternative Governor on the IMF Board of Governors and brings a wealth of experience to the position. The African National Congress wishes him well in his new role.

Issued by the African National Congress

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