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Ruto picks ex-Treasury PS as next CBK governor

Kamau Thugge served as Treasury PS under former CS Henry Rotich

CBK Governor Nominee Kamau Thugge

President William Ruto has nominated Dr Kamau Thugge as the next Governor of the Central Bank of Kenya (CBK) on the recommendation of the Public Service Commission.

The nomination comes ahead of the retirement of Dr. Patrick N. Njoroge, who has served as the ninth Governor of the Central Bank since 2015 and who is ineligible for reappointment.

Dr. Kamau Thugge is a career economist who has served in senior positions within fiscal, monetary, and economic policy-making positions both locally and abroad.

He currently serves as a Senior Advisor and Head of Fiscal & Budget Policy within the Presidency, in addition to serving as a Member of the President's Economic Council.

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Dr. Thugge is an accomplished economist with a Doctoral Degree in Economics from John Hopkins University in Maryland, USA.

He also had a long and successful career at the International Monetary Fund from 1985 to 2010, where he served in the positions of Economist, Senior Economist, and Deputy Division Chief.

At the promulgation of Kenya's new constitution, Dr. Thugge was a key member of the team that designed the country's current fiscal decentralization system following the advent of devolution.

Thereafter, he was appointed as the Principal Secretary in the National Treasury in the Fourth Administration, a position he held from 2013 to 2019.

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Dr. Thugge's nomination follows a competitive recruitment process carried out by the Public Service Commission pursuant to the provisions of Section 13 of the Central Bank of Kenya Act, Chapter 491 of the Laws of Kenya.

The President has transmitted the nomination to the National Assembly for consideration by the August House in fulfillment of the legal requirements set out under the Constitution and the Central Bank of Kenya Act.

Dr. Thugge's appointment to the Governorship of the Central Bank of Kenya is critical for the country, especially during this period of economic turmoil caused by the global shocks, a depreciating shilling and mounting debt obligations.

The Governor's primary role is to ensure the stability of the financial system and the soundness of the national currency, the Kenyan shilling.

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Should Dr. Thugge receive the seal of approval of the National Assembly, he will be the tenth Governor of the Central Bank of Kenya.

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