This article focuses on South Korea and its central banking system. The board of the bank is composed of 7 people, but there has been a vacancy for almost a year now that has the government worried. With inflation an ever-looming problem and the need to grow as an economy the Koreans are worried that a deadlock might occur on some decisions that would halt their progress. While they have been able to function with the help of the Governor lately, he holds no voting power and the risk of a deadlock still exist with the board consisting of an even number of voters. What has them really peeved is the lack of importance the government has placed on the board.
-Steen
2 comments:
That's interesting that the government hasn't paid more attention to this issue. It seems as though they would want a fully functional board to keep the bank running smoothly and effectively.
I agree with Sam in my surprise that South Korea hasn't been on top of this issue and has a plan in place already. You would think that a country's central bank would be well aware of its needs, particularly for their board.
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