By Peter Egwuatu
The International Monetary Fund, IMF has called on governments of member countries to allow its central bank to be independent in order to enhance accountability of policy actions taken in the discharge of their mandate and responsibilities.
The Managing Director, IMF Christine Lagarde made this call in response to questions on the role expected of central banks of countries in view of the anticipated slower global economic growth, during a press briefing titled ‘Global outlook and policy priorities’ at the just concluded 2019 World Bank/IMF Meeting in Washington DC, USA.
She said: “We advise governments to allow their respective central bank more independence in the discharge of their monetary policy mandate so that they can be accountable and responsible for whatever actions taken. . In that way they will be able to initiate policy that would help booster growth and development and be held accountable to the people.”