ABIDJAN, IVORY COAST - Sub-Saharan Africa will have a "stronger voice" at the International Monetary Fund as it will get a third seat on the global lender's executive board, IMF chief Kristalina Georgieva told Agence France-Presse (AFP).
Georgieva delivered the news ahead of next week's IMF and World Bank meetings in Marrakesh, Morocco – the first gathering on the continent since 1973.
The IMF executive board, which is chaired by Georgieva, is responsible for conducting the Washington-based institution's day-to-day business and currently has 24 directors.
The United States, as the world's biggest economy, has the largest share of votes, followed by economic powers Japan, China and Western Europe, ahead of other regions and developing nations. "I have some good news for Africa.
We are advancing a preparation to have a third representative of sub-Saharan Africa in our executive board," Georgieva told AFP in Abidjan, Ivory Coast, on Thursday, October 5.
