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Election to World Bank board very humbling - Kalyalya

Election to World Bank board very humbling - Kalyalya
By Chiwoyu Sinyangwe
Tue 16 Oct. 2012, 11:50 CAT

DR Denny Kalyalya has described as "very humbling" his election as one of the two executive directors to represent Africa on the World Bank Board effective this November.

Dr Kalyalya, a Zambian economist, was until 2010 Bank of Zambia deputy governor in charge of operations, the position he left in the third quarter of 2010 to join the World Bank as alternate executive director of the Africa Group One constituency.

In an interview from Tokyo, Japan, Dr Kalyalya confirmed that he would be representing 21 predominantly English-speaking countries in Africa on the World Bank board.

Africa is represented by two executive directors on the World Bank board with one representing Anglophone countries and the other representing Francophone countries.

During the International Monetary Fund (IMF) and World Bank Group annual meetings in Japan last week, voting in their individual capacities, African countries mostly by English-speaking ones elected Dr Kalyalya as their representative on the World Bank board.

"In terms of significance, it now means that effective November 1, 2012, I will be the principal representative of Africa Group 1 Constituency at the Boards of the World Bank Group that is; the World Bank, International Bank for Reconstruction and Development, International Development Association, International Finance Corporation, and the Multilateral Insurance Guarantee Agency," Dr Kalyalya said.

"In effect this means the countries that voted for me - that is all the 21 members - have given me the mandate to speak on their behalf on these boards and to World Bank Group management and organs."

According to the institutions' articles of agreement and rules, there are 25 executive directors on the World Bank boards, 20 of whom are elected every two years. The other five are merely appointed by their respective countries, namely, the USA, Japan, Germany, France, and the UK.

The Africa Group 1 Constituency at the boards of the World Bank Group comprises Botswana, Burundi, Eritrea, Ethiopia, The Gambia, Kenya, Lesotho, Liberia, Malawi, Mozambique, Namibia, Rwanda, Seychelles, Sierra Leone, South Sudan, Sudan, Swaziland, Tanzania, Uganda, Zambia, and Zimbabwe.

In effect, there are 22 members of Africa Group 1 Constituency at the boards of the World Bank Group, but one member, Somalia, lacks voting rights as the horn of Africa country lacks a functioning government due to prolonged civil war spanning over 20 years.

"The process was subject to individual voting by each member. That I must tell you cannot be taken for granted and when it actually happens, it is very humbling indeed," said Dr Kalyalya who is domiciled in Washington D.C.

Labels: DENNY KALYALYA, IMF, World Bank

posted by MrK @ 3:00 PM