New Delhi: Shaktikanta Das, Governor of the Reserve Bank of India (RBI), has been awarded an "A+" rating for the second year in a row in the prestigious Global Finance Central Banker Report Cards 2024. This recognition places him among the top central bank governors globally, highlighting his exceptional leadership in steering India’s monetary policy amid global economic challenges.
Prime Minister Narendra Modi congratulated Das on his achievement, stating, "This is a recognition of his leadership at the RBI and his work towards ensuring economic growth and stability." Das's leadership has been instrumental in guiding India's monetary policy during a period of global economic uncertainty, reinforcing his position as one of the world’s leading central bankers.
The Global Finance Central Banker Report Cards, an annual publication by Global Finance since 1994, assess the performance of central bank governors from nearly 100 countries, territories, and districts, as well as key regional banks, including the European Union, the Eastern Caribbean Central Bank, the Bank of Central African States, and the Central Bank of West African States. The ratings range from "A+" to "F," where an "A+" indicates outstanding performance and an "F" signals failure. The criteria for these ratings include success in inflation control, achievement of economic growth goals, currency stability, and effective interest rate management.
Central banks worldwide have faced significant challenges in recent years, particularly in combating inflation. As Joseph Giarraputo, founder and editorial director of Global Finance, noted, "Central bankers have waged war against inflation over the past few years, wielding their primary weapon: higher interest rates. Now, countries around the world are witnessing the tangible results of these efforts, as inflation has dropped significantly." He further added that the Central Banker Report Cards honor those who have excelled in developing and implementing strategies that outperform their peers through originality, creativity, and tenacity.
Joining Das in receiving an "A+" rating this year are Denmark's Christian Kettel Thomsen and Switzerland's Thomas Jordan, reflecting their success in navigating their respective economies through turbulent times. Other central bank leaders from countries such as Brazil, Chile, Mauritius, Morocco, South Africa, Sri Lanka, and Vietnam also received high ratings, with "A" grades, underscoring their critical role in maintaining global economic stability.
Global Finance, established in 1987 and headquartered in New York, has a global readership of 50,000 across 193 countries and territories. Its Central Banker Report Cards are considered a benchmark for evaluating the performance of central bank governors worldwide. /BI
