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Zimbabwean elected to World Bank executive board

Xinhua, October 11, 2016 Adjust font size:

Zimbabwean national, Andrew Ndaamunhu Bvumbe, has been elected as executive director of the World Bank Group (WBG) Africa Group 1 Constituency where he will represent 22 Sub-Saharan African countries on the organization's Board of Executive Directors.

A statement issued Monday by Finance and Economic Development Minister Patrick Chinamasa said the senior official in his ministry was elected at a meeting held on Oct. 6 in Washington DC on the margins of the 2016 annual meetings of the IMF and World Bank.

Bvumbe's tenure will run from Nov. 1, 2016 to Oct. 31, 2018.

Bvumbe's professional background includes experience in macroeconomic management as a senior official in the Ministry of Finance, Reserve Bank of Zimbabwe and as Executive Director at the African Development Bank.

"The Government of the Republic of Zimbabwe welcomes Mr Bvumbe's appointment, which comes at a very critical time during Zimbabwe's on-going re-engagement program with the Bretton Woods Institutions and the African Development Bank," Chinamasa said.

Zimbabwe owes the IMF, World Bank and African Development Bank a combined 1.8 billion U.S. dollars and has an overall debt of about 10 billion dollars. Endit