Iyabo Masha becomes first African director of G-24

The Intergovernmental Group of 24 on International Monetary Affairs and Development (G24) has appointed Iyabo Masha, a former member of the Nigerian Presidential Economic Advisory Council (PEAC), as its new director.

The organisation, in a statement issued in Washington DC on Sunday, said the Nigerian was appointed on February 24, 2023.

The G-24 was established in 1971 as a representative grouping of developing countries across Africa, Asia, Latin America, and the Caribbean.

It said Masha is the first African to occupy the position since its establishment and would succeed the outgoing director, Marilou Uy.

According the body, the Nigerian economy expert also brings a wide range of policy, operational, and research experience at global and national levels to the position.

“Masha was a member of Nigeria’s Presidential Economic Advisory Council from 2019-2022 which directly advises the president on economic policy,” the statement reads.

“In that role, she provided leadership to the council’s work on global economic spillovers, and macroeconomic and sustainable development policies.

“Prior to that, she worked on a range of countries at the International Monetary Fund, Washington DC, negotiating IMF lending programmes and developing non-programme policies for emerging market and low-income economies in Africa and Asia.

“She also served as IMF resident representative for Sierra Leone.

“Masha joined the IMF from the Central Bank of Nigeria (CBN) in 2003, where she led the research department’s annual monetary programme.

“Masha has authored and contributed to several publications, and she speaks regularly to diverse audiences on topical issues.”

Meanwhile, the G24 coordinates the position of developing countries on monetary and development issues, particularly issues on the agendas of the international monetary and financial committee and the development committee.

It also represents the views of the group in relevant international fora.

Ministers of finance and their deputies represent member countries on the board of governors, and the permanent secretariat is in Washington DC.

The executive arm of the board of governors for 2022 to 2023 is chaired by Adama Coulibaly, minister of finance, Côte d’Ivoire.

Benjamin Diokno, secretary of finance, Philippines; and Sergio Tomás Massa, minister of the economy of Argentina, are the first and second vice-chairs, respectively.