Finance portfolio committee congratulates Kganyago on IMFC appointment

Reserve Bank Governor Lesetja Kganyago is the new chairman of the International Monetary and Financial Committee.

Reserve Bank Governor Lesetja Kganyago is the new chairman of the International Monetary and Financial Committee.

Published Jan 19, 2018

Share

Cape Town - Parliament's Standing Committee on Finance has congratulated Reserve Bank Governor, Lesetja Kganyago, on his appointment as the new chairman of the International Monetary and Financial Committee of the International Monetary Fund.

Committee chairperson, Yunus Carrim, said the appointment brought enormous credit to the country. “We do not doubt that he will focus on the challenges of the developing countries,” Carrim said. 

The appointment was announced on Thursday and is effective for a period of three years.

Cas Coovadia, MD of the Banking Association South Africa, also welcomed the appointment

"His appointment underlines the confidence global bodies and the financial community have in the South African financial industry, underpinned by our sound banking sector," Coovadia said.

"We believe his selection to lead a committee of a global multilateral body like the IMF is indicative of a renewed faith in our institutions and their reliability in supporting our economy as a growth-friendly investment destination. The new role is also an endorsement of the South African regulatory environment, and the effectiveness with which Kganyago has discharged his role at the Reserve Bank and delivered on its mandate." he said.

Coovadia wished Kganyago every success in his new role.

The Independent on Saturday

Related Topics: