Governor of the Bank of Ghana, Dr Ernest Addison, has been selected to represent Ghana and to chair the Board of Governors of the Bretton Woods Institutions in 2020.
He was selected last Friday at the 2019 Annual Meetings Plenary of the International Monetary Fund (IMF) and the World Bank Group held in Accra.
The chairmanship is selected on a regional rotation basis each year and 2020 rotates to Africa.
Dr Addison was selected through “a meticulous process” based on his competences, Ghana’s standing and membership of the World Bank Group and IMF.
“The selection of Ghana was done in recognition of the country’s impressive strides in macroeconomic stability achieved under the administration of the President Nana Akufo Addo and Governor Addison’s lead role in cleaning up the banking sector,” a statement from BoG said.
BoG described the chairmanship position as “prestigious”, noting it positively project Ghana’s image within the international community.
With this new responsibility, Dr Addison will among other duties, chair other functional Committees of the two institutions.
• Chair the Joint Committee on Remuneration of Executive Directors and their Alternates (JCR). This work entails appointment of two other Committee members (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.
• 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.
• 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.