By BAKANG MOKOTO
ANC wished well and congratulated the governor of the South African Reserve Bank (SARB), Lesetja Kganyago on his appointment as the new chairperson of the International Monetary Fund’s (IMF) International Monetary and Financial Committee.
ANC spokesperson, Zizi Kodwa said the transformation of international financial institutions such as the IMF and the World Bank will give a greater voice to emerging economies.
“This will also advance development friendly global multilateral trade regimes which has long been a cornerstone of the ruling party’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.
“Kganyago is the first IMFC chairperson 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,” Kodwa said.
He further said the ANC hopes that Kganyago will leverage this appointment to ensure that the voices of developing countries are always taken into account in decision-making. Kodwa added that Kganyago already serves as South Africa’s Alternative Governor on the IMF Board of Governors and he brings a wealth of experience to the position.
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