Central Bank of Kenya Governor Dr. Kamau Thugge has been awarded an ‘A’ grade by Global Finance magazine, in recognition of his leadership in stabilizing Kenya’s economy, managing inflation, and strengthening monetary policy over the past two years.
The ‘A’ grade is part of Global Finance’s annual assessment of central bank governors worldwide.
The grading scale runs from “A+” to “F” and is based on performance in areas such as inflation control, economic growth targets, interest rate management, currency stability, and political independence. An “A” grade signifies excellent performance.
In his remarks, Governor Thugge said the award reflected the dedication of the CBK team in steering the economy through a challenging period.
“This grade is a recognition of the hard work done by the team at the Central Bank of Kenya. In the past two years, we have had to take tough decisions in order to rein in inflation and manage the exchange rate. We are proud that these efforts have borne fruit,” he stated.
Over the past year, Kenya has recorded improved economic indicators. Inflation has stayed below the target range, while the exchange rate has remained relatively stable against major global currencies.
Interest rates on treasury bills and the Central Bank Rate have also come down, signaling a healthier monetary environment.
Joseph Giarraputo, the founder and editorial director of Global Finance, praised the resilience of central bankers in tackling global economic challenges.
“Most central bankers have spent the past few years battling inflation with their most effective tool: higher interest rates, though their mandates may differ from country to country. As inflation recedes, we’re beginning to see the results of those tough policy decisions,” he said.
He added that Global Finance’s annual report cards recognize leaders “who have not only delivered results but done so with independence, discipline, and strategic foresight.”
Governor Thugge explained reforms such as the revised Risk-Based Credit Pricing Model for the banking sector, which has already been issued. According to him, this measure is expected to enhance transparency in lending and strengthen the transmission of monetary policy across the financial sector.
The recognition places Governor Thugge among an elite cohort of central bankers globally who have demonstrated exceptional independence, discipline, and foresight in economic management.
He joins the ranks of renowned counterparts from countries such as the United States, Denmark, Vietnam, Indonesia, Chile, and Morocco.
