Claver Gatete, 2016 finance minister of the year

Claver Gatete, 2016 finance minister of the year

Rwanda’s Minister of Finance is recognized by Global Capital

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Background

Claver Gatete was born on May 23rd, 1962 in Uganda where he remained until moving to Vancouver in Canada in 1991 where he attended the University of British Columbia, graduating in 1993 with a degree in Agricultural economics. He remained in Canada until 1997 where he worked as an economist before moving to Rwanda where he worked for the
United Nations Development Program until the year 2000.

Career progression

In 2001 he began working for the President and two years later in November 2003 he was employed in the Ministry of Finance and Economic Planning, as the Secretary to the Treasury and the Secretary General. He remained in this position for 2 years until 2005, when he was appointed as Rwanda’s ambassador to Iceland, Ireland and the UK. He held this position until December 2009 when he was appointed the deputy governor in the National Bank of Rwanda, he was later promoted in 2011 to the position of governor where he remained until he was made the new Minister of Finance.

Global Capital recognize Claver Gatete achievements

Global Capital is used by businesses and individuals working in the international capital markets, they provide opinion, news and data services.

In October 2016 Global Capital awarded Claver Gatete the title of Finance Minister of the Year for Sub-Saharan Africa for his work in maintaining economic stability in Rwanda for the last year and a half, even with the challenges of falling commodity prices around the world and continued decline in production levels in the mining industry. The award was made during a meeting between the World Bank Group and the International Monetary fund (IMF) in Washington, USA.

A representation from Global Capital said about Claver Gatete: “For a small country with limited export opportunities this could have proved a severe setback. The impact on the wider economy, however, has been largely mitigated by prompt action by policymakers,”, “Rwanda’s minister of finance and economic planning has been a key mover in this process. In this role, Gatete has demonstrated an impressive commitment to prudent and proactive fiscal management as well as talent for crafting agreements with international institutions,”.

Since being appointed as the Minister of Finance, Claver has implemented a tight fiscal and monetary policy which has been viewed so positivity that it helped him secure a significant level of credit from the International Monetary fund in June 2016.

Rwanda is forecast to become one of Sub-Saharan Africa’s fastest growing economies, their GDP is predicted to grow by as much as 7.5% by 2020.

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