Nairobi, April 12 -- The International Monetary Fund (IMF) has reviewed the governance policies of central banks around the world to minimise risks of misuse of loans and default on payments.

The Washington DC headquartered institution recently published a safeguards assessment policy report following the review by an external expert panel that was chaired by Central Bank of Kenya (CBK) chairperson Mohammed Nyaoga.

The Nyaoga team made several key recommendations to the IMF that have been adopted, marking another milestone in tightening the operations of central banks.

"It was a big honour for the country and the continent to lead such a high-level global panel to come up with safeguards assessment policy that will be used for the next...