Good point World Bank, IMF are a colonial relic. They will screw developing countries over. Even their Western staff in Kenya earn much more than local staff doing the same job. They explain it in all kinds of twisted ways but it's a legacy of colonization. At the back of their minds, they're thinking these guys are not so smart.

Kenya needs a visionary leader who can work with a free hand confidently and able to engage Asia strongly. Establishing a regional clearing house for the Yuan/Rupee for example would be a great move forward.

The CBK governor should ideally be someone who is not intimidated by IMF/World Bank types. Someone whose credentials also intimidate those guys. Luckily it seems we have a pretty good crop of potentials who should be able to stand their ground.

Prominent economists at the World Bank and the International Monetary Fund (IMF) were locked out of the race for three top positions at the Central Bank of Kenya (CBK) despite their long experience in policy making.

John Randa, a senior economist at World Bank, and Rose Ngugi, an adviser in the office of executive director for the Africa Group at the IMF in Washington, were among those who failed to make the short-list for interviews.

[quote=hisah]Indeed a solid CBK head is required to tame the bankers as well as consolidation of the banks to tame consumerism lending and grow industrial lending.

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This artcle is superb