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| Ngozi Okonjo-Iweala |
Ngozi Okonjo-Iweala Biography
Ngozi Okonjo-Iweala, PhD (born June 13, 1954) was a famous economist in the world Nigeria's most famous for the role now as Minister of Finance to work in Nigeria and the World Bank, including several years as one of Managing Director (October 2007-July 2011). He also briefly held the position of Foreign Minister of Nigeria in 2006.
In 2007, Okonjo-Iweala as a substitute possibility for the former World Bank President Paul Wolfowitz, and he is currently regarded as one of three candidates to replace World Bank President Robert Zoellick when he steps in June 2012.
Education and personal life
Okonjo-Iweala State Igbofrom Ogwashi-uku, Delta in which his father Professor Okonjo Chukuka Obi, or king, of the Royal Family Obahai Umu Obi Ogwashi-Ukwu.
Okonjo-Iweala was educated at Harvard University, graduating magna cum laude with a AB in 1977, and obtained her Ph.D. in regional economic development from Massachusetts Institute of Technology (MIT) in 1981. He was married to Ikemba Iweala from Umuahia, Abia State and they have four children. The eldest son, Onyinye Iweala received a Ph.D. in Experimental Pathology from Harvard University in 2008 and graduated Harvard Medical School in 2010. His son, Uzodinma Iweala, author of No animal's well-known critical novel (2005).
Career
Ngozi Okonjo-Iweala, at the 2004 Spring Meeting of the International Monetary Fund (IMF) and World Bank Group
Before the ministerial career in Nigeria, Okonjo-Iweala was vice president and corporate secretary of the World Bank Group. He left in 2003 after he was appointed to President Obasanjo cabinet as Minister of Finance on July 15, 2003.
In October 2005, he led the Nigerian team that struck an agreement with the Paris Club group of bilateral creditors, to pay a part of Nigeria's external debt (U.S. $ 12 billion) in return for $ 1 18 billion debt write-off. Before the payment of debts and write-off part, Nigeria spent about U.S. $ 1 billion annually on debt service, without making a dent in the principal owed.
Okonjo-Iweala also introduced the practice of publishing each state monthly financial allocation from the federal government in the newspaper. These actions go far in enhancing transparency in governance. He played a key role in helping Nigeria obtain the first credit rating was sovereign (BB minus) from Fitch and Standard & Poor's. Nigeria considered to have defaulted on sovereign debt in 1983 (debt rescheduling is considered as a kind of default by rating agencies).
Some controversy surrounded Okonjo-Iweala appointment as Minister of Finance and Minister of Foreign Affairs, Olu Adeniji, the Organization of the United Nations on the payment of their salaries in dollars. Okonjo Iweala and Olu Adeniji has paid U.S. $ 240,000, compared to their base salary $ 6,000. This controversy has been led by reform-minded media reports, although Okonjo-Iweala felt that the critics are not appropriate because the temporary nature of the payment, which comes from donor-supported and Technology Fund to be negotiated by the government of Nigeria.
On the day Friday, July 20, 2007, Court of Appeal ruled that the salary payment was not made law within Nigeria, and ordered her and Adeniji to refund the excess to the state account.
Both Okonjo-Iweala and Nigerian Federal Government has appealed the case to the Supreme Court, and judgment is pending.Template: Updated after the appeal on the grounds that the appeal court judgment caused by wrong information given to him that the Nigerian government has made payment of wages, when in fact it does not.
He resigned as Foreign Minister of Nigeria on August 3, 2006 following the sudden removal as head of the Economic Team Nigeria by former President Olusegun Obasanjo. He left the administration that at the end of August 2006.
On October 4, 2007, World Bank President Robert Zoellick was appointed to the position of Managing Director, effective December 1, 2007.
In 2011, Okonjo-Iweala has been appointed as Minister of Finance with an expanded portfolio of Minister of Economic Adjustment by President Goodluck Jonathan. He took a lot of heat, more so than any other government officials for removal of fuel subsidy policy is not popular by the Nigerian government that led to a protest sit Nigeria in January 2012.
During the confirmation as a minister, he emphasized the need to reduce recurrent expenditure in this country which is now 74% of the national budget and begin capital projects that can increase the 14% rate of unemployment in the country. In his role as Coordinating Minister for Economy and Finance Minister, he has vast influence / exercises to shape the direction of the economy and Jonathan team transformation agenda.
Non-profit work
In 2007, Okonjo-Iweala NGO NOI Global Consulting, working with the Gallup Organization to introduce a poll, voting NOI, the polity of Nigeria. He is a fellow at the Brookings Institution. Okonjo-Iweala also served on the Advisory Board of the Global Financial Integrityand at the World Resources Institute Board.
Honors and Awards
European Time Hero 2004
Today Nigeria Minister of the Year 2004
Euromoney Magazine Global Finance Minister for 2005
Financial Times / Banker African Finance Minister 2005
Nigeria in 2006.
Honorary doctorate from Brown University, Providence, RI, USA.
Honorary doctorate from Trinity College, University of Dublin, Ireland.
Honorary doctorate from Colby College, Maine, USA.
Honorary Doctorate from the University of North Caribbean, Mandeville, Jamaica.
Honorary doctorate from Amherst College, Amherst, MA, USA.
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