• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Tuesday, July 15, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy/Technology

IMF expands executive board with Sub-Saharan Africa as 25th chair

The Matters Press by The Matters Press
November 2, 2024
Reading Time: 2 mins read
0
Economists Challenge IMF on call for further VAT increase in Nigeria

The International Monetary Fund (IMF) member countries have elected an expanded Executive Board of 25 Executive Directors, including three representing Sub-Saharan Africa(SSA.)

RELATED POSTS

17-member committee for burial of Buhari

Lagos falls flat to APC

Nigeria celebrates Soyinka at 91

IMF Media Centre disclosed this in a statement, a copy of which was obtained by the News Agency of Nigeria (NAN) on Saturday in Abuja.

According to the statement, the completion of the Fund’s 2024 Regular Election of Executive Directors on Oct. 25 was the final step in the creation of an additional chair dedicated to SSA.

It said this was following the call by the International Monetary and Financial Committee (IMFC) at the 2023 Annual Meetings in Marrakech, Morocco, to improve the region’s voice and representation and the overall balance of regional representation at the board.

The statement said on July 16, the IMF Board of Governors issued a resolution to increase the number of Executive Directors from 24 to 25 with the 25th chair intended for SSA.

“This resolution received overwhelming approval from the fund’s membership–more than the required 85 per cent majority of the total voting power.

“The expansion was implemented with the 2024 Regular Election of Executive Directors.

“This was when the 45 SSA member countries, previously organised into two constituencies, were reorganised into three new constituencies: Central and Eastern Africa, Southern Africa and West Africa.”

It quoted the IMF’s Managing Director, Kristalina Georgieva, as saying it was a historic milestone for the IMF and Africa.

“Not only does the addition of a third African chair to our board reflect the continent’s tremendous progress in developing its human and economic potential, but it will strengthen Africa’s voice and bring the IMF closer to the people we serve.”

The statement said the Executive Board was last expanded 32 years ago in 1992, with the addition of two new chairs to represent new member countries after the dissolution of the Soviet Union.

It said the new board’s term would commence on Nov. 1.

Tags: IMF
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Buhari attends inauguration of Barrow of Gambia
Entertainment/sports

17-member committee for burial of Buhari

July 14, 2025
Lagos falls flat to APC
Economy/Technology

Lagos falls flat to APC

July 13, 2025
African intellectuals release letter to world, caution continent on selfness
Economy/Technology

Nigeria celebrates Soyinka at 91

July 13, 2025
China introduces new visa
Economy/Technology

Nigeria maintains issuance of 5-year visa to Americans

July 13, 2025
ADC, AN ASSEMBLAGE OF STRANGE BED FELLOWS, TIRED POLITICIANS– GROUP
Energy

ADC, AN ASSEMBLAGE OF STRANGE BED FELLOWS, TIRED POLITICIANS– GROUP

July 10, 2025
Babangida Aliyu’s Exit from ADC, a testament to Coalition’s deceitful recruitment- Group
Economy/Technology

Babangida Aliyu’s Exit from ADC, a testament to Coalition’s deceitful recruitment- Group

July 10, 2025
Next Post
Ghana to import petrol from Nigeria’ s $20b  Dangote Refinery

Ghana to import petrol from Nigeria' s $20b Dangote Refinery

Tinubu steering Nigeria away from Venezuela-like tragedy – IMPI

Tinubu steering Nigeria away from Venezuela-like tragedy - IMPI

Recommended Stories

Instagram Is Testing Photo Albums, Because Nothing Is Sacred Anymore

November 13, 2021
IMF raises alarm over Nigeria’s economy, but supports reform efforts

Afreximbank supports women entrepreneurship to boost Industrialisation

November 12, 2023
Veritas Kapital’s total assets hit N21.4bn

NCAA demands compliance with insurance cover regulations

August 14, 2023

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • 17-member committee for burial of Buhari
  • Lagos falls flat to APC
  • Nigeria celebrates Soyinka at 91

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us