Kamau Thugge: IMF Economist turned CBK Governor Nominee
President William Ruto nominated Dr. Kamau Thugge as the next governor of the Central Bank of Kenya (CBK) on Monday, May 15, ahead of the departure of Dr. Patrick Njoroge.
Thugge will be the tenth Governor of the CBK if the National Assembly approves his nomination.
Dr. Kamau Thugge, CBS, has been nominated for the position of Governor of the Central Bank of Kenya (CBK). Based on the recommendation of the Public Service Commission. According to a statement released by the Head of the Public Service, Felix Koskei.
As an economist working for reputable international institutions and the government. His ability to apply economic theory to the real world has set him apart from his colleagues.
In March 1997, he published a 29-page research paper for the International Monetary Fund (IMF). Titled “Debt Relief for Low-Income Countries and the Heavily Indebted Poor Countries (HIPC) Initiative” with Anthony Boote.
He holds a bachelor’s degree from Colorado College in the United States. As well as a master’s degree and a doctorate from Johns Hopkins University, also in the United States.
According to US News, Johns Hopkins University is the seventh-best university in the United States and is a private institution.
It was established in 1876 and is consistently ranked as one of the world’s top universities.
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From 1985 to 2010, he served the IMF in various capacities. He began as an economist, rose to the position of senior economist, and then became the Deputy Division Chief.
In 2010, he left the IMF to join the National Treasury. Under former President Uhuru Kenyatta, the Grand Coalition Government’s Finance Minister.
Uhuru appointed Thugge as the first Principal Secretary in the National Treasury under the 2010 Constitution when he became president in 2013.
The situation deteriorated in 2019 when he was forced out of office on allegations of misconduct and replaced by Dr. Julius Muia.
Later, he and the Treasure CS at the time, Henry Rotich, were charged in court about the Arror and Kimwarer dams scandal.
The Office of the Director of Public Prosecutions (ODPP) accused him of participating in a scheme to steal billions of shillings from the government.
In January 2021, however, the ODPP turned Thugge into a state witness in the case, having withdrawn the charges against him.
Before his nomination, Dr. Thugge served as the State House’s Director of Fiscal Affairs and Budget Policy.
On June 19, 2023, Dr. Patrick Njoroge, the current Governor of CBK, will conclude his eight-year tenure.
Felix Koskei stated, “The Presidential nomination precedes the imminent retirement of Dr. Patrick N. Njoroge, CBS, who has served the country with distinction as the ninth Governor of the Central Bank since 19th June 2015 and is statutorily ineligible for reappointment.”
Kamau Thugge: IMF Economist turned CBK Governor Nominee
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