Kamau Thugge
Kamau Thugge (born 1960) is a Kenyan economist, banker, and the tenth and current governor of the Central Bank of Kenya. He assumed office on 19 June 2023.[1]
Kamau Thugge | |
|---|---|
| Born | 1960 (age 62–63) Nyeri, Kenya |
| Alma mater | |
| Occupation(s) | Economist, banker |
| Years active | 1985 — present |
| Known for | Fiscal discipline |
| Title | Governor Central Bank of Kenya |
Background and education
Thugge was born in Nyeri, Kenya, in 1960. He studied in Kenya for his pre-university education. He holds a Bachelor of Arts degree from Colorado College. He obtained his Master of Arts and Doctor of Philosophy degrees in economics from Johns Hopkins University in the United States.[1][2]
Career
International Monetary Fund
Out of graduate school, Thugge began a career at the International Monetary Fund (IMF), that spanned 20 years. While there, he was reportedly responsible for designing policies for dealing with the unsustainable debt of developing countries, a process referred to as the Heavily Indebted Poor Countries Initiative (HIPC).[3] For some time, during and following the Global Financial Crisis, he served as the Chief of Mission to Botswana and Lesotho.[2]
Government of Kenya
Following his employment with the IMF, he was hired by the Kenyan government, serving in the Ministry of Finance in various roles, including as the Director of Fiscal and Monetary Affairs, as Economic Secretary and as Senior Economic Advisor. He also served as Principal Secretary at the Finance Ministry and as Senior Advisor to the President of Kenya.[2][3]
Central Bank of Kenya
During the confirmation process as Governor of the Central Bank of Kenya, Thugge proposed the establishment of a government infrastructure bond in United States dollars, set up locally and open to Kenyan citizens and regional nationals. This came in the wake of dollar scarcity in Kenya and the high interest rates demanded by issuers of Eurobonds outside of Kenya. His views directly contrasted with those of his predecessor Patrick Njoroge.[4]
References
- Brian Ambani (19 June 2023). "Kamau Thugge takes over as Central Bank Governor". Daily Nation. Nairobi, Kenya. Retrieved 19 June 2023.
- Central Bank of Kenya (19 June 2023). "Appointment of Governor Dr Kamau Thugge" (PDF). Central Bank of Kenya. Nairobi, Kenya. Retrieved 21 June 2023.
- Dominic Omondi (22 May 2023). "Kamau Thugge: Adept economist must deal with high-voltage politics to deliver in CBK role". Business Daily Africa. Nairobi, Kenya. Retrieved 21 June 2023.
- Kepha Muiruri (1 June 2023). "CBK chief differs with Kamau Thugge on issuing local dollar bond". Business Daily Africa. Nairobi, Kenya. Retrieved 21 June 2023.
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