New York, September 28th 2009 - Global Finance magazine (website: www.gfmag.com) has named the heads of the central banks of six countries—plus the European Central Bank president--as the world’s best central bankers over the past year.
The “Central Banker Report Card” feature, published annually by Global Finance since 1994, grades central bank governors of 30 key countries (and the ECB) on an “A” to “F” scale for success in areas such as infation 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. Says Global Finance Publisher Joseph Giarraputo, “During one of the toughest years on record, the world’s central bankers were tested as never before. Every year, we try to assess the determination of central bankers to stand up to political interference and their efforts at forcing their governments to spend less, and to open their economies to foreign investment and fnancial services. This year however, special emphasis was given to each central banker’s performance in navigating his or her country through the worst fnancial crisis since the ‘30s.”
Only the Central Banker of Taiwan also scored an “A” last year. No “F”s were awarded this year.
The full list of central banker report cards is as below.
2009 CENTRAL BANKER REPORT CARDS
|THE AMERICAS||Grade This Year||Grade Last Year|
|Brazil||Henrique de Campos Meirelles||B+||B+|
|Chile||José De Gregorio||B||B-|
|United States||Ben Bernanke||C||C-|
|Czech Republic||Zdenek Tuma||A||B|
|European Union||Jean-Claude Trichet||A||C|
|Russia||Sergei M. Ignatiev||C-||D|
|United Kingdom||Mervyn King||B||D|
|Indonesia||Darmin Nasution (acting governor)||Too early to say||N/A|
|Malaysia||Zeti Akhtar Aziz||A||B|
|New Zealand||Alan Bollard||C||D|
|Philippines||Amando M. Tetangco Jr.||B||B|
|Singapore||Heng Swee Keat||B||A|
|South Korea||Lee Seongtae||A||B|
|AFRICA & THE MIDDLE EAST|
|Saudi Arabia||Muhammad Al-Jasser||C||N/A|
|South Africa||Tito Mboweni||B||A|