IMFC Selects South African Reserve Bank Governor Lesetja Kganyago as New Chairman

IMF News, January 18, 2018

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Canonical URL: IMFC Selects South African Reserve Bank Governor Lesetja Kganyago as New Chairman

The members of the International Monetary and Financial Committee (IMFC) selected Mr. Lesetja Kganyago as Chairman of the Committee for a term of three years, effective January 18, 2018.
Mr. Kganyago succeeds Mr. Agustín Carstens, who resigned his chairmanship on December 1, 2017 to assume the position of General Manager of the Bank for International Settlements (BIS).

Governor of the South African Reserve Bank since November 2014.
Served as Deputy Governor of the South African Reserve Bank from May 2011; responsibilities included research, financial stability and regulatory reform, bank supervision, and risk management and compliance.
Former Director-General of the National Treasury of South Africa; during that tenure he steered a number of public finance and financial markets reforms.
Led South Africa’s technical team to various meetings of G20 Finance Ministers and Central Bank Governors, including during South Africa’s presidency in 2007.
Chaired the IMF/World Bank Development Committee Deputies and the G20 Working Group on IMF Governance Reform.

Chair of the Association of African Central Bankers.
Chair of the Committee of Central Bank Governors of the Southern African Development Community.
Co-chair of the Financial Stability Board’s Regional Consultative Group for Sub-Saharan Africa.
Chair of the Financial Stability Board’s Standing Committee on Standards Implementation.

The IMFC comprises finance ministers and central bank governors and is the primary advisory body of the IMF Board of Governors.
The Committee has 24 members, reflecting the composition of the IMF Executive Board.
Each member country or group of countries that elects an Executive Director also appoints a member of the Committee.
The IMFC normally meets twice a year—in the spring and at the time of the IMF/World Bank Annual Meetings in the fall.
The next IMFC meeting was scheduled for April 20-21, 2018 in Washington, D.C.

International Monetary Fund press release, January 18, 2018.