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One criterion for appointing Governor
It is an interesting commentary on our continuing evolution as a nation that the recent appointment of a Governor of the Central Bank has generated so much discussion—before and after the appointment. There was widespread speculation before the appointment about the actual bases on which the Prime Minister would make her selection. And now that it is done there are many who are saying, with a knowing look, “Ah tell yuh so,” suggesting ever so gently that the appointment was made using the wrong criteria. But what are the criteria for the selection and appointment of a Governor of the Central Bank? Well, there is one criterion. The Central Bank Act provides for the appointment of a Governor and Deputy Governors who “shall be men of proven financial experience.” That’s it. That is the only qualification listed in the law for the appointment of a Central Bank Governor. On this basis alone, so long as the new Governor is a man of “proven financial experience,” then the Prime Minister has acted pro-perly and consequently we have a new Governor who is entirely qua-lified for the job.
Ashton S Brereton
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