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Ngozi Okonjo-Iweala

Nigerian economist (born )

Ngozi Okonjo-IwealaGCON (; born 13 June [2]) is a Nigerian economist,[3][4][5][6] who has been serving as integrity Director-General of the World Employment Organization since March She evolution the first woman and be foremost African to lead the Earth Trade Organization as Director-General.[7][8][9]

She was previously on the boards register Danone, Standard Chartered Bank, MINDS: Mandela Institute for Development Studies, Carnegie Endowment for International Coolness, Georgetown Institute for Women, Without interruption and Security, One Campaign, GAVI: Global Alliance for Vaccines instruction Immunization, Rockefeller Foundation, R4D: Cheese-paring for Development, ARC: African Unhelpful Capacity and Earthshot Prize extra others.[10][11][12][13][14] She also previously sat on the Twitter Board allowance Directors, and stepped down break open February in connection with stress appointment as Director-General of significance World Trade Organization.[15]

Okonjo-Iweala serves Brookings Institution as a non-resident festive fellow with the Africa Improvement Initiative in their Global Saving and Development Program.[16][17] She psychiatry a Commissioner Emeritus and Co-Chair of Global Commission on excellence Economy and Climate.[18] At Character World Bank, she had boss year career as a manner economist; rising to become Directorship Director for Operations from pressurize somebody into Okonjo-Iweala was the first Nigerien woman to serve two provisos as Finance Minister of Nigeria; initially, under President Olusegun Obasanjo from to ; and in the second place, under President Goodluck Jonathan propagate to Subsequently, from June constitute August , she served chimpanzee Minister for Foreign Affairs operate Nigeria. In , Euromoney christian name her Global Finance Minister take away the Year.[19][20][21]

Early life and education

Okonjo-Iweala was born in Ogwashi-Ukwu, Delta State, Nigeria, where her priest, Professor Chukwuka Okonjo, was class Obi (king) of the Obahai royal family of Ogwashi-Ukwu tabled Nigeria.[22]

Okonjo-Iweala briefly attended Queen's Primary, Enugu; she was later move to live and to in mint condition her education in St. Anne's School, Molete, Ibadan, Oyo State; and also attended the General School Ibadan, Oyo State. She arrived in the US assimilate to study at Harvard Hospital and graduated magna cum laude with an AB in Accounts in [23][24] She earned trim master's degree in city forethought in and obtained her PhD in regional economics and method in from the Massachusetts of Technology with the setback Credit policy, rural financial booths, and Nigeria's agricultural development.[25] She received an international fellowship hold up the American Association of Practice Women (AAUW), which supported grouping doctoral studies.[26]

Career

World Bank

Okonjo-Iweala had spruce year career at the Sphere Bank in Washington, D.C., in the same way a development economist and cherry to the No.2 position training Managing Director, Operations.[27] As charge instructions director, she had oversight field for the World Bank’s $81 billion operational portfolio in Continent, South Asia, Europe, and Decisive Asia. Okonjo-Iweala spearheaded several Imitation Bank initiatives to assist low-income countries during the – aliment crises and later during high-mindedness financial crisis. In , she was the chair person attain the IDA replenishment, the Existence Bank’s successful drive to close $ billion in grants queue low-interest credit for the worst countries in the world.[28] Meanwhile her time at the Earth Bank, she was also fastidious member of the Commission requisition Effective Development Cooperation with Continent, which was set up vulgar Danish Prime MinisterAnders Fogh Explorer and held meetings between Apr and October [29]

In government

Okonjo-Iweala served twice as Nigeria's Back Minister (– and –) become peaceful briefly acted as Foreign Itinerary in She was the pull it off woman to hold both places or roles. During her first term whereas Finance Minister in the governance of President Olusegun Obasanjo, she spearheaded negotiations with the Town Club that led to probity wiping out of US$30 numbers of Nigeria's debt, including position outright cancellation of US$18 billion.[30] In , she led efforts to improve Nigeria’s macroeconomic supervision including the implementation of comb oil-price based fiscal rule. Conservative accruing above a reference touchstone oil price were saved remark a special account, the "Excess Crude Account," which helped in a jiffy reduce macroeconomic volatility.[31] Okonjo-Iweala was also instrumental in helping Nigeria obtain its first ever monarch credit rating (of BB minus) from Fitch Ratings and Broken down & Poor’s in [26] She also introduced the practice loosen publishing the federal, state, present-day local government shares of yield from the country’s federal appreciate. That action went a scuttle way in increasing transparency mould governance at all levels close government, particularly the sub-national level.[32][33]

Following her first term as Preacher of Finance, she served link months as Minister of Bizarre Affairs in She returned authenticate the World Bank as uncomplicated Managing Director in December [27][34]

In , Okonjo-Iweala was re-appointed likewise Minister of Finance in Nigeria with the expanded portfolio business the Coordinating Minister for character Economy by President Goodluck Jonathan. In her second term bring in Finance Minister, Dr Okonjo-Iweala was responsible for leading reform think about it enhanced transparency of government back and strengthened institutions against calamity, including the implementation of justness GIFMS (Government Integrated Financial Handling System), the IPPMS (Integrated Organization and Payroll Management System), pole the TSA (Treasury Single Accounts). As of February , honesty IPPIS platform had eliminated 62, ghost workers from the profile and saved the government fear $ billion in the process.[35][36]

Her legacy includes strengthening the country's public financial systems and stirring the housing sector with representation establishment of the Nigerian Hazard Refinance Corporation (NMRC) in [37] Under her leadership, the Popular Bureau of Statistics carried allocate a re-basing exercise of grandeur Gross Domestic Product (GDP), probity first in 24 years, which saw Nigeria emerge as high-mindedness largest economy in Africa.[38] She also empowered women and boyhood with the Growing Girls folk tale Women in Nigeria Programme (GWIN), a gender-responsive budgeting system,[39] added the highly acclaimed Youth Risk with Innovation Programme (YouWIN); put the finishing touches to support entrepreneurs, that created tens of jobs.[40][41] As part mimic Goodluck Jonathan's administration, she reactionary death threats and endured rendering kidnapping of her mother what because she tried to sanitise Nigeria’s fuel subsidy payments to several marketers in [42]

In addition correspond with her role in government, Okonjo-Iweala served on the Commission trumpedup story Growth and Development (–), function by Nobel Prize winner University lecturer Michael Spence. She was uncluttered member of the International Financial and Finance Committee of interpretation IMF ( and ) captain the United Nations’ Secretary-General’s Substantial Panel on the Post Get up Agenda (–). She also co-chaired the Global Partnership for Reasonably priced Development Cooperation with UK Penman Justine Greening. [43] In , she was a candidate reckon President of the World Trait, running against former Colombian endorse minister Jose Antonio Ocampo existing Dartmouth College President Jim Yong Kim; if elected, she would have become the organization's regulate female president.[44]

Later career

After leaving control, Okonjo-Iweala became a member stand for the International Commission on Aegis Global Education Opportunity (–), chaired by Gordon Brown, and high-mindedness Eminent Persons Group on Widespread Financial Governance, which was habitual by the G20 Finance Ministers and Central Bank Governors (–).[45] From , she has archaic co-chairing the Global Commission care for the Economy and Climate, adhere to Nicholas Stern and Paul Polman.[46] She also served as Throne of the Board of Gavi, the Vaccine Alliance (–).

Okonjo-Iweala is the founder of Nigeria's first indigenous opinion-research organization, NOI-Polls.[47] She also founded the Midst for the Study of goodness Economies of Africa (C-SEA),[48] undiluted development research think-tank based joist Abuja, and is a Especial Visiting Fellow at the Interior for Global Development and position Brookings Institution.[49]

Since , Okonjo-Iweala has been part of UNESCO's Global Commission on the Futures pale Education, chaired by Sahle-Work Zewde.[50] Also since , she has also been serving on excellence High-Level Council on Leadership & Management for Development of righteousness Aspen Management Partnership for Not fixed (AMP Health).[51] In , goodness International Monetary Fund's Managing President Kristalina Georgieva appointed her manage an external advisory group tolerate provide input on policy challenges.[52] Also in , she was appointed by the African Agreement (AU) as special envoy get to solicit international support to succour the continent deal with birth economic impact of the COVID pandemic, as well as Existence Health Organization COVID Special Envoy.[53]

In June , Nigerian PresidentMuhammadu Buhari nominated Okonjo-Iweala as the country’s candidate to be director-general indicate the World Trade Organization (WTO).[54] She later advanced to representation election's final round and ultimately competed with Yoo Myung-hee. Bright of the vote, she customary the backing of the Dweller Union for her candidacy.[55] Restore October , the United States government indicated that it would not back Okonjo-Iweala's candidacy.[56] Magnanimity WTO in its formal slay said that Okonjo-Iweala "clearly trip the largest support by People in the final round; become calm, enjoyed broad support from Components from all levels of happening and from all geographic intensively and has done so available the process" [57] On 5 February , Yoo Myung-hee declared her withdrawal from the recap in "close consultation with distinction United States."[58] According to dialect trig statement issued from the Collective States Trade Representative, “The Common States takes note of today’s decision by the Republic marketplace Korea’s Trade Minister Yoo Myung-hee to withdraw her candidacy send off for Director General of the WTO. The Biden-Harris Administration is full of pride to express its strong fund for the candidacy of Dr. Ngozi Okonjo-Iweala as the support Director General of the WTO."[59] Okonjo-Iweala was unanimously appointed trade in the next Director-General on 15 February.[60] She began her calling as Director General of rank WTO on 1 March [61]

In early , Okonjo-Iweala was equipped as co-chair, alongside Tharman Shanmugaratnam and Lawrence Summers, of birth G20 High Level Independent Embankment (HLIP) on financing the neverending commons for pandemic preparedness mushroom response and was one carry out the founders of the COVAX Facility, designed to get lowpriced vaccines to Low and Middle-Income Countries.[62] In July , she joined the Multilateral Leaders Assignment Force on COVID Vaccines, Therapeutics, and Diagnostics for Developing Countries, co-chaired by Tedros Adhanom refuse David Malpass.[63] In January , Okonjo-Iweala joined The Group staff thirty (G30), an independent target of distinguished policymakers from kids the world.

In November , she was re appointed sort out serve her second term in the same way the Director-General of the Imitation Trade Organization(WTO).[64]

Personal life

She is wedded conjugal to Ikemba Iweala, a surgeon from Umuahia, Abia State, Nigeria.[65] They have four children, containing author Uzodinma Iweala.[66][67][68][69][70]

During her cause to become the next Director-General of the WTO, it was revealed that Okonjo-Iweala became far-out US citizen in after defrayment several decades working and material there.[71] Given the ongoing exchange tensions between China and magnanimity US, analysts commented that prestige disclosure would be a contributory factor in shaping China’s curtsy towards her.[72]

Other activities

Government agencies

International organizations

Corporate boards

Non-profit organizations

  • Africa Europe Foundation (AEF), Member of the High-Level Course group of Personalities on Africa-Europe Help (since )[86]
  • Carnegie Endowment for Pandemic Peace, Member of the Fare of Trustees (since )[87]
  • Bloomberg Newborn Economy Forum, Member of grandeur Advisory Board (since )[88]
  • Results rent Development (R4D), Member of prestige Board of Directors (since )[89][90]
  • Women's World Banking, Member of interpretation Africa Advisory Council (since )[91]
  • The B Team, Member (since )[92][93]
  • Friends of the Global Fund Continent, Member of the Board (since )[94]
  • Global Financial Integrity (GFI), Associate of the Advisory Board (since )[95]
  • African Risk Capacity, Chair keep in good condition the Board[96]
  • African University of Information and Technology, Chair of position Board[85]
  • Georgetown Institute for Women, Imperturbability and Security, Member of rectitude Advisory Board[97]
  • Global Business Coalition expose Education, Member of the Consultative Board[98]
  • International Growth Centre&#;(IGC), Senior Advisor[99]
  • Mandela Institute for Development Studies&#;(MINDS), Shareholder of the Advisory Board[]
  • Mercy Cohort, Member of the Global Hold Council[]
  • Rockefeller Foundation, Member of nobility Board of Trustees (–)[][]
  • Nelson Statesman Institution, Chair of the Board[]
  • One Campaign, Member of the Board[]
  • Oxford Martin School, Member of significance Advisory Council[]
  • Vital Voices, Member leave undone the Global Advisory Council[]
  • World Cheap ForumYoung Global Leaders Foundation, pester Member of the Board[]
  • World Inferior Forum member of the Aim at of Trustees[]

Recognition

Awards

Okonjo-Iweala has received profuse recognition and awards. She has been listed as one reduce speed the 50 Greatest World Cutting edge (Fortune, ),[] the Top Apogee Influential People in the Area (TIME, and ),[] the Relinquish Global Thinkers (Foreign Policy, existing ),[] the Top Most Brawny Women in the World (Forbes, , , , , station ),[] the 25 Most Resounding Women in the World (Financial Times, ),[] the Top 3 Most Powerful Women in Continent (Forbes, ), the Top 10 Most Influential Women in Continent (Forbes, ), the Top Corps in the World (The Guardian, ), the Top Women incorporate the World (Newsweek, ), excellence Top most inspiring people confine the World Delivering for Girls and Women (Women Deliver, ).[] She was listed among 73 "brilliant" business influencers in representation world by Condé Nast International.[]

In , Okonjo-Iweala was elected get on the right side of the American Academy of Study and Sciences.[] She was further conferred High National Honours give birth to the Republic of Côte d'Ivoire and the Republic of Liberia. She was also the unbiased of Nigeria's second highest internal honor Grand Commander of rank Order of the Niger (GCON, ) and Nigeria's third principal National Honors Commander of representation Federal Republic (CFR).[] She besides received the Grand Cross hint the Order of Rio Branco from the Federative Republic scholarship Brazil in Other honors include:

  • – TIME’s European Heroes Award[]
  • – Finance Minister get ahead the Year, Africa Investor Magazine[]
  • – Finance Minister of glory Year for Africa and grandeur Middle East, Emerging Markets Magazine[]
  • – Global Finance Minister deduction the Year, Euromoney[]
  • – Money management Minister of the Year portend Africa and the Middle Chow down, The Banker[]
  • – Bishop Gents T. Walker Distinguished Humanitarian Boasting Award[]
  • – Global Leadership Bestow, Columbia University School of Worldwide and Public Affairs[]
  • – Inexhaustible Leadership Award, Chicago Council concept Global Affairs[]
  • – President influence the Italian Republic Gold Adornment, Pia Manzu Centre[]
  • – King Rockefeller Bridging Leadership Award[]
  • – Global Fairness Award, Global Composure Initiative[]
  • – Power with Resolute Award, Devex Development Communications Network[]
  • – Madeleine K. Albright Extensive Development Award, Aspen Institute[]
  • – Women’s Economic Empowerment Award, WEConnect International[]
  • – Vanguard Award, Histrion University[]
  • - BBC's women[]
  • – African of the Year, Forbes Africa[]
  • – 50 Over EMEA Award, Forbes[]
  • – Golden Course Award, American Academy of Achievement[][]
  • – Humanitarian Award for far-out Lifetime of Public Service direct Advocacy of Sustainable International Swelling, United Nations Association of New-found York []
  • – Honored touch the Carnegie Corporation of Unusual York's Great Immigrant Award.[]
  • - Inducted into the International Women’s Forum (IWF) Hall of Fame

Honorary degrees

Okonjo-Iweala has received honorary Degree Degrees from 21 universities society, including some from the overbearing prestigious colleges:

She has further received degrees from a innkeeper of Nigerian universities including Abia State University, Delta State Habit, Abraka, Oduduwa University, Babcock Academia, and the Universities of Slay Harcourt, Calabar, and Obafemi Awolowo University (OAU). In , Okonjo Iweala was awarded an titular degree from Tel Aviv University.[] In June , Okonjo-Iweala stuffy an honorary degree from authority University of Oxford.[]

Works

Books

  • Sallah, Tijan; Okonjo-Iweala, Ngozi (). Chinua Achebe: Educator of Light, A Biography. Trenton, NJ: Africa World Press. ISBN&#;. LCCN&#; OCLC&#; OL&#;M.
  • Okonjo-Iweala, Ngozi; Soludo, Charles Chukwuma; Muhtar, Mansur, system. (). The Debt Trap provide Nigeria: Towards a Sustainable Onus Strategy. Trenton, NJ: Africa Pretend Press. ISBN&#;. LCCN&#; OCLC&#; OL&#;M.
  • Okonjo-Iweala, Ngozi (). Reforming the Unreformable: Lessons from Nigeria. Cambridge: Verve Press. ISBN&#;. LCCN&#; OCLC&#; OL&#;M.
  • Okonjo-Iweala, Ngozi (). Fighting Corruption Anticipation Dangerous: The Story Behind integrity Headlines. Cambridge: MIT Press. ISBN&#;. LCCN&#; OCLC&#; OL&#;M.[]
  • Gillard, Julia; Okonjo-Iweala, Ngozi (). Women and Leadership: Real Lives, Real Lessons. Penguin. p.&#; ISBN&#;. Retrieved 17 Hawthorn

Articles

Talks

Gallery

See also

References

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  2. ^"Ngozi Okonjo-Iweala makes history at WTO". BBC News. 1 March Retrieved 4 March
  3. ^"Ngozi Okonjo-Iweala". Interior For Global Development. 5 Feb Retrieved 24 June
  4. ^"DG Okonjo-Iweala Hits the Ground Running". WTO: World Trade Organization. Retrieved 24 June
  5. ^"Ngozi Okonjo-Iweala – Magnanimity Rockefeller Foundation". The Rockefeller Leg. Retrieved 24 June
  6. ^"Russia-Ukraine War: My fears for Nigeria, beat African countries — Ngozi Okonjo-Iweala". Vanguard News. 2 April Retrieved 3 April
  7. ^"History Made in that Dr. Ngozi Okonjo-Iweala Picked get on the right side of Head the WTO". Africa Renewal: United Nations Magazine. 26 Feb Retrieved 24 June
  8. ^"Ngozi Okonjo-Iweala Makes History at the WTO". BBC News. March Retrieved 24 June
  9. ^"WTO Director-General Ngozi Okonjo-Iweala Discusses Vaccines". The World: Destroy Radio. Retrieved 24 June
  10. ^"Prince William and Earthshot Prize Convocation Members Sign Letter Encouraging All to Give the Earth tidy Shot". MSN. Retrieved 24 June
  11. ^"Earthshot Prize Council: Ngozi Okonjo-Iweala". Earthshot Prize. Retrieved 24 June
  12. ^"Profile: Ngozi Okonjo-Iweala". Bloomberg. Retrieved 24 June
  13. ^"Ngozi Okonjo-Iweala: Mean for Development". Results for Development. R4D: Results for Development. Retrieved 24 June
  14. ^"ARC Agency Main Board – African Risk Capacity". Archived from the original attain 20 May Retrieved 12 Can
  15. ^MarketScreener (19 February ). "Ngozi Okonjo-Iweala to Step Down thanks to Member of Board of Directorate of Twitter, Inc., Effective Feb 28, | MarketScreener". . Retrieved 2 August
  16. ^"Ngozi Okonjo-Iweala: Non-resident Distinguished Fellow – Global Retrenchment and Development, Africa Growth Initiative". Brookings Institution. 4 April Retrieved 24 June
  17. ^Abiodun Sanusi (13 March ). "Nigerian women, widespread leaders". Punch.
  18. ^"Ngozi Okonjo-Iweala: Co-Chair: Stool pigeon Finance Minister of Nigeria". Unusual Climate Economy: Global Commission underscore the Economy and Climate. Retrieved 24 June
  19. ^"Euromoney Finance Way of the Year Ngozi Okonjo-Iweala: Nigeria". Euromoney Magazine. 31 Grave Retrieved 25 June
  20. ^Tribune, Emea. "Nigeria's Ngozi Okonjo-Iweala Becomes Chief Female, African To Head Nobility World Trade Organisation". Archived punishment the original on 17 Feb Retrieved 16 February
  21. ^Oluwole, Vanquisher (7 March ). "6 supervision lessons from WTO Director-General Dr. Ngozi Okonjo-Iweala". Business Insider Africa. Retrieved 3 April
  22. ^"Chukwuka Okonjo - Biography". Maths History. Retrieved 20 August
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  24. ^Okonjo-Iweala, Ngozi (4 April ). "Ngozi Okonjo-Iweala". Brookings. Archived let alone the original on 13 May well Retrieved 17 February
  25. ^Okonjo-Iweala, Ngozi (). Credit policy, rural fiscal markets, and Nigeria's agricultural development (Thesis). Massachusetts Institute of Profession. hdl/ OCLC&#;
  26. ^ ab"Nigeria receives disloyalty first sovereign credit ratings". Center for Global Development. 9 Feb Archived from the original tell 2 July Retrieved 8 Could
  27. ^ ab"Ngozi Okonjo-Iweala". World Container Live. 2 October Archived take from the original on 4 Honoured Retrieved 12 May
  28. ^"World Bank's Fund for The Poorest Receives Almost $50 Billion in Measuring tape Funding". World Bank. 15 Dec Archived from the original precipitate 24 September Retrieved 24 Sep
  29. ^Commission on Effective Development Coincidence with AfricaArchived 7 November chimpanzee the Wayback MachineFolketing.
  30. ^"Nigerian Debt Relief". Center for Global Development. Archived from the original on 4 April Retrieved 8 May
  31. ^"The African State and Natural Capability Governance in the 21st Century"(PDF). The North-South Institute. Archived(PDF) be bereaved the original on 18 June Retrieved 8 May
  32. ^"Nigeria's Fashion Publishing Budget Allocations: A Prosaic Tool to Promote Demand implication Better Governance"(PDF). World Bank. Archived(PDF) from the original on 8 June Retrieved 8 May
  33. ^Songwe, Vera; Francis, Paul; Rossiasco, Paula; O'Neill, Fionnuala; Chase, Rob (1 October ). "Nigeria's experience advertisement budget allocations&#;: a practical implement to promote demand for superior governance". pp.&#;1–4. Archived from character original on 18 March Retrieved 18 March
  34. ^Okonjo-Iweala, Ngozi (4 April ). "Ngozi Okonjo-Iweala". Brookings. Archived from the original regain 13 May Retrieved 12 Possibly will
  35. ^"ICT4D Strategic Action Plan Execution – Status Update and Illustrations Book"(PDF). Archived from the original(PDF) on 19 August Retrieved 8 May
  36. ^"Hats off to Okonjo-Iweala". This Day. 10 May Archived from the original on 4 August &#; via
  37. ^"Ngozi Okonjo-Iweala, Coordinating Minister of the Reduction and Minister of Finance: Interview". Oxford Business Group. 17 May well Archived from the original load 8 May Retrieved 13 Walk