Taiwan central bank governor fails to secure 3rd straight top grade

Taiwan’s central bank governor Yang Chin-long (???) failed to secure his third consecutive top grade in 2021, according to an annual report issued by the New York-based Global Finance magazine.

In the Central Banker Report Cards 2021 — released by the magazine on Wednesday, Yang earned an “A-” grade for this year, stopping the two-year streak when he received the top “A” grade in 2019 and 2020 after assuming his post on Feb. 26, 2018.

The magazine said its “A” to “F grading is based on success in areas such as inflation control, economic growth goals, currency stability and interest rate management.

The magazine added “A” represents an excellent performance down through “F” for outright failure.

Yang was ranked on the same level with U.S. Federal Reserve Chair Jerome Powell in the 2021 report, according to Global Finance.

In addition to Yang and Powell, Colombia’s Leonardo Villar Gomez, Georgia’s Koba Gvenetadze, Israel’s Amir Yaron, Malaysia’s Nor Shamsiah Mohd Yunus, Mexico’s Alejandro Diaz de Leon, New Zealand’s Adrian Orr, Paraguay’s Jose Cantero Sienra, Qatar’s Abdulla Bin Saoud Al-Thani and South Africa’s Lesetja Kganyago also earned an “A-.”

Ranked above the 11 central bank governors, a total of 10 other central bankers in the world earned the top “A” grade in the 2021 report, Global Finance said.

They are Brazil’s Roberto Campos Neto, Bulgaria’s Dimitar Radev, Canada’s Tiff Macklem, Chile’s Mario Marcel Cullell, China’s Yi Gang (??), the Czech Republic’s Jiri Rusnok, Egypt’s Tarek Amer, the European Union’s Christine Lagarde, Kuwait’s Mohammad Yousef Al-Hashel and Morocco’s Abdellatif Jouahr.

The Central Banker Report Cards, published every year by Global Finance since 1994, graded the central bank governors of more than 100 key countries and territories worldwide this year.

“With the pandemic still surging in many areas, and inflation emerging as a major area of concern once again, the world’s central bankers are confronting multiple challenges from multiple directions,” Global Finance publisher and editorial director Joseph Giarraputo said in a statement.

“Global Finance’s annual Central Banker Report Cards show which financial policy leaders are succeeding in the face of adversity and which are falling behind,” Giarraputo added.

Yang has been working at the Taiwan central bank since 1989, serving in its foreign exchange and economic research departments before his appointment as deputy governor in 2008.

His predecessor Perng Fai-nan (???) has the distinction of being the only central banker in the world to have earned the top grade 14 times, gaining straight A’s from 2005-2017.

Source: Focus Taiwan News Channel