Ahmad 
The International Monetary Fund (IMF) has announced the addition of a new Executive Director to its Executive Board, bringing the number of members to 25.
The addition will take effect on November 1, bringing Africa’s number of seats on the Board to 3, including 2 reserved for sub-Saharan Africa.
The new allocation decision calls for improved African representation at the Fund and is part of broader efforts to strengthen the continent’s presence in international financial organizations.
The allocation of the additional seat reflects a response to calls by African countries to strengthen their role in the global financial architecture.
The World Bank and IMF meetings in Marrakech, held on October 28, symbolically embodied support for the decision, as the meetings, the first of their kind in Africa in 50 years, witnessed the announcement of the third seat for sub-Saharan Africa.
Kristalina Georgieva, Managing Director of the Fund, praised the decision to grant the new seat, considering it an important step in supporting development and progress on the continent, and stressed that financial institutions need to build bridges between countries of the North and countries of the South.
Nadia Calvino, Chair of the IMF Committee and Spanish Finance Minister, hailed the decision, saying it strengthens Sub-Saharan Africa’s representation at the Fund and its voice in global financial decisions.
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