- The Governor of the Bank of Ghana has been selected to chair the Board of Governors of the Bretton Woods Institutions in 2020
- As part of his role he will be expected to chair the Joint Committee on Remuneration of Executive Directors and their Alternates.
- The Chairmanship is selected on a regional rotation basis each year and 2020 rotates to Africa.
The Governor of the Bank of Ghana (BoG), Dr. Ernest Addison has been appointed to represent Ghana to Chair the Board of Governors of the Bretton Woods Institutions in 2020.
In a statement issued by the BoG, it explained that his selection was due to Ghana’s impressive achievements in macroeconomic stability achieved under the administration of President Akufo-Addo.
“Ghana was selected to chair the Board of Governors of the Bretton Woods Institution at the 2019 Annual Meetings Plenary of the International Monetary Fund (IMF) and the World Bank Group held on Friday, October 18, 2019.”
The statement further indicated that Dr Addison was appointed in recognition of his lead role in cleaning up the banking sector.
The Chairmanship is selected on a regional rotation basis each year and 2020 rotates to Africa.
For the BoG this will project Ghana’s image positively within the international community.
“With this new responsibility, Governor Addison will among other duties, chair other functional Committees of the two institutions”.
Dr Addison will specifically chair the Joint Committee on Remuneration of Executive Directors and their Alternates.
This means that he will appoint two other Committee members which will be 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.
In addition, Dr. Addison will Chair the Joint Procedures Committee (JPC)/MIGA Procedures Committee (MPC). The role of the JPC/MPC is to review the official business of the FundBank and recommending its approval to the Board of Governors.
Dr. Addison will also 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.