Dr. Kamau Thugge, born in 1960 in Nyeri, Kenya, is a distinguished economist and the current governor of the Central Bank of Kenya, a role he has held since June 19, 2023. His educational journey took him from Kenya to the United States, where he earned a Bachelor of Arts degree from Colorado College and both a Master of Arts and a Doctor of Philosophy in economics from Johns Hopkins University.
Dr. Thugge’s career began at the International Monetary Fund (IMF), where he worked for 20 years, focusing on policies for managing the unsustainable debt of developing countries through initiatives like the Heavily Indebted Poor Countries Initiative (HIPC). During the Global Financial Crisis and its aftermath, he served as the IMF’s Chief of Mission to Botswana and Lesotho.
Following his tenure at the IMF, Dr. Thugge transitioned to the Kenyan government, serving in the Ministry of Finance in various capacities, including Director of Fiscal and Monetary Affairs, Economic Secretary, and Senior Economic Advisor. He also held roles as the Principal Secretary at the Finance Ministry and as a Senior Advisor to the President of Kenya.
As Governor of the Central Bank of Kenya, Dr. Thugge has been instrumental in proposing innovative financial instruments, such as a government infrastructure bond in US dollars aimed at Kenyan citizens and regional nationals, to address local dollar scarcity and high Eurobond interest rates. His tenure has also been marked by candid assessments of economic challenges, including his analysis of the overvaluation of the Kenyan shilling against the dollar, which he noted was costing the country vital international reserves.
Dr. Thugge’s extensive experience and proactive approach in managing economic policies highlight his commitment to strengthening Kenya’s financial stability and economic growth.
