Africa-Press – Lesotho. The executive board of the International Monetary Fund (IMF) began a new mandate this Friday, with one more seat for sub-Saharan Africa and which reorganized the representation of the continent.
In a statement published yesterday on its website, the IMF noted that its member states “successfully elected an expanded executive board with 25 executive directors, including three representatives from sub-Saharan Africa”.
The expansion of the executive board of the Washington-based organization had already been announced in July of this year, being the first since 1992 – at the time, to accommodate two new seats representing the new member states created after the dissolution of the Soviet Union.
Now implemented after the fund’s elections on October 25, this expansion has reorganized the representation of the 45 member states of sub-Saharan Africa.
Previously divided into two constituencies, these countries are now organized by geography: Central and Eastern Africa, Southern Africa and West Africa.
“This is a historic milestone for the IMF and for Africa,” said the fund’s managing director, Kristalina Georgieva, quoted in the document, adding that in addition to adding a place for the continent, it reflects its “tremendous progress in developing its human and economic potential.”
“It will strengthen Africa’s voice and bring the IMF closer to the people we serve,” she stressed.
For More News And Analysis About Lesotho Follow Africa-Press
