Central Bank of Kenya offices on Harambee Avenue on Monday officially welcomed former National Treasury Principal Secretary Kamau Thugge as it tenth Governor.
In a press release dated June 19, CBK said Thugge has had a long and distinguished career in the international and Kenyan public service.
"He worked in the International Monetary Fund (IMF) in both policymaking and non-policymaking department" the statement read in part.
The bank further said Thugge helped design the Highly Indebted Poor Countries Initiatives (HIPCI).
The IMF and World Bank launched the HIPC initiative in 1996 to ensure that no poor country faces an unmanageable debt burden.
Thugge holds a Bachelor's Degree from Colorado College and a Master's and PhD Degree in Economics from Johns Hopkins University in the United States.
Besides the PS and the now CBK governor role, Thugge has previously held several senior roles including heading the Fiscal and Monetary Affairs Department at the National Treasury, as economic secretary and as senior economic Advisor.
CBK said in the press release that Thugge has helped design and implement various laws including the Public Finance Management Act, the Commission on Revenue Allocation Act, the Independent Office Act among many others.
Thugge officially assumed office following his appointment by President William Ruto.
Prior to the appointment, Thugge was serving as senior advisor to the President.
He has taken over from Patrick Njoroge who has served for two four-year terms.
Njoroge was appointed by ex-President Uhuru Kenyatta in June, 2015 before his tenure at the helm of CBK was extended in June, 2020.
In his exit statement on Sunday, Njoroge said he leaves behind a strong, highly professional, fit-for-purpose CBK well on its way to becoming a World class modern Central Bank.
And is if to mentally prepare his successor for the task ahead, he said "perilous times lie ahead, but how different the voyage."
