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NEW YORK, August 24, 2015 — Global Finance magazine has named the heads of the Central Banks of the Czech Republic, the European Union, India, Israel, Malaysia, Paraguay, Peru, the Philippines, and Taiwan as the World’s Best Central Bankers over the past year, in recognition of their achievement of a prestigious “A” grade on Global Finance’s Central Banker Report Cards.
In addition, the Central Bankers of Colombia, Saudi Arabia and the United States earned “A-” grades.
The Central Banker Report Cards, published annually by Global Finance since 1994, grade the central bank governors of nearly 75 key countries (and the European Union) on an “A” to “F” scale for success in areas such as inflation control, economic growth goals, currency stability and interest rate management. (“A” represents an excellent performance down through “F” for outright failure.) Subjective criteria also apply. This year, 5 central banks are being graded for the first time (Botswana, Iceland, Namibia, Paraguay and Uganda).
Global Finance publisher and editorial director Joseph Giarraputo notes, “Global economies are starting to recover. This comes despite a number of challenges, including a strengthening US dollar and the end of the Federal Reserve’s easy money policy. Central bankers remain crucial in overcoming these hurdles. Sound monetary policies can dampen the effects of currency swings and rising interest rates—and thus spur economic growth. As our scores show, some central banks have fared better than others in devising such policies. Our grades also reflect the willingness of central bankers to stand up to political interference as well as their ability to influence government policies on spending and foreign investment.”
The full Central Banker Report Cards 2015 report will be published in the October issue of Global Finance.
The Central Bankers earning an “A” rating in the Global Finance Central Banker Report Card feature publishing in the October issue are: |
||
Czech Republic |
Miroslav Singer
|
A |
European Union |
Mario Draghi
|
A |
India |
Raghuram Rajan
|
A |
Israel |
Karnit Flug
|
A |
Malaysia |
Zeti Akhtar Aziz
|
A |
Paraguay |
Carlos Fernandez Valdovinos
|
A |
Peru |
Julio Velarde Flores
|
A |
Philippines |
Amando Tetangco Jr.
|
A |
Taiwan |
Fai-Nan Perng
|
A |
The Central Bankers earning an “A-” rating are: |
||
Colombia |
José Dario Uribe Escobar
|
A-
|
Saudi Arabia |
Fahad al-Mubarak
|
A-
|
Unites States |
Janet Yellen
|
A-
|
CENTRAL BANKERS |
2015 GRADE |
2014 GRADE |
|
---|---|---|---|
The Americas |
|||
Argentina | Alejandro Vanoli | D | N/A* |
Bolivia | Marcelo Zabalaga Estrada | B+ | B |
Brazil | Alexandre Tombini | B- | B- |
Canada | Stephen Poloz | B- | B |
Chile | Rodrigo Vergara | B+ | A- |
Colombia | José Dario Uribe Escobar | A- | A- |
Costa Rica | Olivier Castro Pérez | B | B |
Ecuador | Diego Martinez | Too early to say | B- |
Guatemala | Julio Roberto Suarez | D | N/A* |
Mexico | Agustin Carstens | B+ | B |
Paraguay | Carlos Fernandez Valdovinos | A | N/A** |
Peru | Julio Velarde Flores | A | B+ |
United States | Janet Yellen | A- | Too early to say |
Uruguay | Mario Bergara | B | N/A* |
Venezuela | Nelson Merentes | D | D |
Europe |
|||
Belarus | Pavel V. Kallaur | Too early to say | N/A* |
Bulgaria | Dimitar Radev | Too early to say | N/A* |
Czech Republic | Miroslav Singer | A | B+ |
Denmark | Lars Rohde | B+ | B+ |
European Union | Mario Draghi | A | A- |
Hungary | György Matolcsy | B | B- |
Iceland | Már Guomundsson | B+ | N/A** |
Norway | Oystein Olsen | B+ | B- |
Poland | Marek Belka | B | B- |
Romania | Mugur Isarescu | B | B |
Russia | Elvira Nabiullina | B | B |
Sweden | Stefan Ingves | B | B+ |
Switzerland | Thomas Jordan | B+ | A |
Turkey | Erdem Basci | C | B- |
Ukraine | Valeria O. Gontareva | C | Too early to say |
United Kingdom | Mark Carney | B | B- |
Asia |
|||
Australia | Glenn Stevens | B | B+ |
Azerbaijan | Elman Rustamov | C | C |
Bangladesh | Atiur Rahman | B- | C |
China | Zhou Xiaochuan | C | B- |
Hong Kong | Norman Chan | B | B |
India | Raghuram Rajan | A | A |
Indonesia | Agus Martowardojo | B- | B |
Japan | Haruhiko Kuroda | B | B+ |
Kazakhstan | Kairat Kelimbetov | B- | C |
Malaysia | Zeti Akhtar Aziz | A | A |
New Zealand | Graeme Wheeler | B | B |
Pakistan | Ashraf Mahmood Wathra | B- | Too early to say |
Philippines | Amando Tetangco Jr. | A | A |
Singapore | Ravi Menon | B- | B |
South Korea | Lee Ju Yeol | B | Too early to say |
Sri Lanka | Arjuna Mahendran | Too early to say | N/A* |
Taiwan | Fai-Nan Perng | A | A |
Thailand | Veerathai Santiprabhob | Too early to say | N/A* |
Uzbekistan | Fayzulla Mullajanov | C- | D |
Vietnam | Nguyen Van Binh | B- | B- |
Middle East & Africa |
|||
Algeria | Mohammed Laksaci | B | B- |
Angola | José Pedro de Morais | Too early to say | N/A* |
Bahrain | Rasheed Mohammed Al Maraj | B- | B- |
Botswana | Linah Mohohlo | B+ | N/A** |
Egypt | Hisham Ramez | B | B |
Ethiopia | Teklewold Atnafu | B+ | B- |
Ghana | Henry Kofi Wampah | C | C |
Iraq | Abdul Basit Turki | C | B- |
Israel | Karnit Flug | A | A |
Jordan | Ziad Fariz | B+ | B |
Kenya | Patrick Njoroge | Too early to say | N/A* |
Kuwait | Mohammad Yusuf Al-Hashel | B- | B+ |
Lebanon | Riad Salamé | B+ | B |
Morocco | Abdellatif Jouahri | B+ | B |
Namibia | Ipumbu Shiimi | B | N/A** |
Nigeria | Godwin Emefiele | C | Too early to say |
Oman | Hamood Sangour Al Zadjali | B+ | B |
Qatar | Abdullah Saud Al-Thani | B+ | B |
Saudi Arabia | Fahad al-Mubarak | A- | A |
South Africa | Lesetja Kganyago | B+ | N/A* |
Tunisia | Chedly Ayari | B- | B |
Uganda | Emmanuel Tumusiime-Mutebile | B | N/A** |
United Arab Emirates | Mubarak Rashid Al Mansouri | B | N/A* |
* Central Bank governor was graded in 2014, however a different governor held the office.
** New country addition to the Central Bank Report Cards in 2015, therefore no grade was given in 2014.
For editorial information please contact:
Andrea Fiano | afiano@gfmag.com
To obtain rights to use Global Finance’s World’s Best Banks 2015 logo, please contact:
Chris Giarraputo | chris@gfmag.com
The unauthorized use of Global Finance Award logos is strictly prohibited.
***When referencing this release, please include a link to GFMag.com and a link to this coverage of these awards as well as the ‘About Global Finance’ paragraph below. Thank you.
About Global Finance
Global Finance, founded in 1987, has a circulation of 50,050 and readers in 180 countries. Global Finance’s audience includes senior corporate and financial officers responsible for making investment and strategic decisions at multinational companies and financial institutions. Its website — GFmag.com — offers analysis and articles that are the heritage of 28 years of experience in international financial markets. Global Finance is headquartered in New York, with offices around the world. Global Finance regularly selects the top performers among banks and other providers of financial services. These awards have become a trusted standard of excellence for the global financial community.