IMF Boosts Sub-Saharan Africa's Voice with New Executive Director

The IMF's board has approved a resolution to appoint a new executive director, boosting representation for sub-Saharan Africa. This change, effective Nov. 1, increases the total number of board chairs to 25.

The International Monetary Fund's board of governors has given the green light to a resolution aimed at bolstering sub-Saharan Africa's representation by adding a new executive director to the fund's executive board, according to an IMF statement released on Friday.

Set to take effect on November 1, the addition will elevate the total number of chairs on the board to 25, reinforcing the institution's commitment to diversity and inclusion.

This move marks a significant step in ensuring that the interests and challenges of sub-Saharan African nations are more prominently represented in global economic discussions.

(With inputs from agencies.)