South African Reserve Bank Governor Lesetja Kganyago has been appointed as the new chairperson of the International Monetary Fund's International Monetary and Financial Committee (IMFC).
Kganyago will serve a term of three years, effective January 18.
Kganyago already serves as South Africa's alternative governor on the IMF Board of Governors and will bring a wealth of experience to the position.
"He served as deputy governor of the South African Reserve Bank from May 2011 and was responsible for a wide range of areas, including research, financial stability and regulatory reform, bank supervision, and risk management and compliance. During his tenure as director-general of the National Treasury, he successfully steered a number of public finance and financial markets reforms," the IMF said.
He succeeds former governor of the Banco de México, Agustín Carstens, who resigned his chairpersonship on December 1, to assume the position of general manager of the Bank for International Settlements, the IMF said.
Congratulations to SA Reserve Bank Governor, Lesetja Kganyago, who has been elected chairman of the IMF Committee. This is a great achievement and it shows confidence in our Governor. 🇿🇦 pic.twitter.com/2QN7Z9qqQS— Yusuf Abramjee (@Abramjee) January 18, 2018
Congrats SARB Governor Lesetja Kganyago who has been appointed chairman of the IMF & Financial Committee (IMFC), the main advisory body of the Board of Governors of the IMF, for a 3-year term. The committee has 24 members, reflecting composition of the IMF Executive Board— Sure Kamhunga (@sure_kamhunga) January 18, 2018