The fact that Micah Cheserem is still Kenya’s central bank governor is one of the few reasons why the IMF can convince itself there’s an economic team in Nairobi with which it can work. Appointed in 1993 and reappointed last July for a further four-year term, Cheserem has won admiration for his judicious influence on monetary and fiscal policy – inflation has fallen from 101% to 11% during his time as governor – and for his outspoken support for the IMF’s new and tougher stance against institutionalized corruption.
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