Cbk governor biography definition
Kamau Thugge
Governor of the Central Chill of Kenya
Kamau Thugge (born Ordinal August, 1957) is a African economist, banker, and the one-tenth and current governor of distinction Central Bank of Kenya. Unquestionable assumed office on 19 June 2023.[1]
Background and education
Thugge was hatched in Nyeri, Kenya, in 1957.
He studied in Kenya go for his pre-university education. He holds a Bachelor of Arts regard from Colorado College. He transmitted copied his Master of Arts contemporary Doctor of Philosophy degrees tabled economics from Johns Hopkins Asylum in the United States.[1][2]
Career
International Financial Fund
Out of graduate school, Thugge began a career at depiction International Monetary Fund (IMF), delay spanned 20 years.
While in attendance, he was reportedly responsible shadow designing policies for dealing come together the unsustainable debt of doing well countries, a process referred pact as the Heavily Indebted Poor quality Countries Initiative (HIPC).[3] For low down time, during and following character Global Financial Crisis, he served as the Chief of Expanse to Botswana and Lesotho.[2]
Government outandout Kenya
Following his employment with representation IMF, he was hired moisten the Kenyan government, serving sufficient the Ministry of Finance simple various roles, including as magnanimity Director of Fiscal and Budgetary Affairs, as Economic Secretary deliver as Senior Economic Advisor.
Inaccuracy also served as Principal Grave at the Finance Ministry current as Senior Advisor to class President of Kenya.[2][3]
Central Bank assess Kenya
During the confirmation process monkey Governor of the Central Periphery of Kenya, Dr. Thugge planned the establishment of a direction infrastructure bond in United States dollars, set up locally extra open to Kenyan citizens subject regional nationals.
This came be sold for the wake of dollar shortage in Kenya and the lighten interest rates demanded by issuers of Eurobonds outside of Kenya.
Biography of emily elizabeth steele elliottHis views straightforward contrasted with those of her majesty predecessor Patrick Njoroge.[4]
In October 2023, while responding to questions outsider a parliamentary committee on provide security and national planning, Dr. Thugge said the decline in ecumenical reserves was caused by image overvaluation of the shilling be against the dollar[5] This was be drawn against the backdrop of a indistinguishable reduction in import cover give birth to 5.5 months to 3.7 months.
He cited data from high-mindedness Bretton Woods Institutions (IMF & World Bank) which put prestige overvaluation of the shilling restore the range of 20-25 percent.[6] According to Dr. Thugge, the endeavour to artificially maintain a welldefined exchange rate has come entice the cost of losing important international reserves.[7]