Papua New Guinea Treasurer Polye to chair International Monetary Fund, World Bank board

Papua New Guinea Treasurer Don Polye will be the next chairman of the board of governors of the International Monetary Fund and the World Bank.

Hon Don Polye, MP

Polye was selected to be the chairman in 2014 by fellow governors, who are finance ministers of member countries.

Prime Minister Peter O’Neill commended Polye, saying his elevation to chair of the important financial institutions was a vote of confidence in PNG and would raise its profile on the global scene.
In a letter to Polye, the prime minister said his selection was in recognition not only of Polye’s leadership and talent by his peers, but also of PNG’s increasing role as a major player in the region.

“I have no doubt that PNG and the region would benefit greatly from your tenure as Chair of the Fund and Bank,” O’Neill said. The treasurer said the chairmanship was a prestigious position and he was honoured to take it up.
“This will certainly complement well our government’s drive towards making PNG the leader and big brother amongst Pacific Island nations, and an emerging economy in the Asia-Pacific region,” Polye said.
Polye’s chairmanship would be formally approved by the board of governors of the fund and the bank at its annual general meeting in October.

Executive director for Asia Pacific Constituency Jong-won Yoon said he was delighted that a Pacific Island nation will hold this office in 2014. “This role affords PNG the opportunity to showcase itself on the international arena,” Yoon said.

SOURCE: THE NATIONAL/PACNEWS (12/09/2013, Papua New Guinea)