Ivory Coast’s Wautabouna Ouattara Assumes New Role on IMF Executive Board
Ivory Coast’s Wautabouna Ouattara has assumed a newly created role on the International Monetary Fund’s (IMF) executive board, marking the third seat for Sub-Saharan Africa. This position brings the board’s membership to 25, reflecting a strategic effort to amplify Africa’s influence in global financial policymaking. Africa’s 54 countries now hold 6.5% of IMF voting rights, despite comprising 18% of the global population.
Critics argue that the new representation falls short, especially as countries in the region face debt crises. The IMF has been crucial in ensuring financial stability in Africa, assisting countries like Zambia and Ghana in debt restructuring and providing liquidity aid to countries like Kenya grappling with rising debt interest payments.
Key Points:
- Wautabouna Ouattara from Ivory Coast joins the IMF executive board.
- Africa now holds 6.5% of IMF voting rights with three seats on the board.
- The IMF has played a vital role in stabilizing African economies through debt restructuring and liquidity assistance.
SOURCE: REUTERS
