Press Release Global Finance's Central Banker Report Gards 2018 #aSAil&p NEW YORK, August 13, 2018 - Global Finance magazine has released its Central Banker Beport Cards 2018. vE' A, The Central Banker Beport Cards, published annually by G/obal F,nance since '1994, grade the a governors of 85 key counlries as well as the European Union, the Eastern Caribbean {t s- Central Bank, the Bank of Central African States and ihe Central Bank of West African States GuIOBAL For the firsl lime, central bankers from the following countries and regions have been added to trINANCE the list: Bahamas, the Bank of Central AJrican States, the Central Bank of West African States, l=-----.- the Eastern Caribbean Central Bank, Georgia, and Trinidad and Tobago. About Global Finance Grades are based on an "A" to "F" scale for in areas such as inflation success control, economic Global Finance, founded in goals, groMh currency stability and interest rate management. ("A" represents an excellant 1987, has a circulation of performance down through "F" ior outright failure.) Subjective criteria also apply. 50,000 and readers in 193 counlries. G/obal Finance 3 Global Finance publisher and editorial director Joseph Giarraputo notes, "Central bankers audience includes senior are confronting a perfect storm of challenges, from unwinding quantitative easing to shielding corporate and financial economies from political upheavals. Our scorecards for these public finance leaders who show officers responsible for making is and is political maintaining control moving forward, and who struggling against slippery or investment and stratogic economic changes." decisions at multinational The full Central Banker Report Cards 2018 report will appeat in Global Financeb October issue. companies and financial institutions. lts website - The Central Bankers earning an "A" grade in lhe Global Finance Central Banker Beport Card GFMag.com - offers analysis feature in the October issue are: and articles that are the heritagr of 31 years of experience Australia in international financial Chile Mario Marcel Cullell markets. G/obal Finance is European Union Mario Draghi headquartered in New York, . with ofiices around the world. Kuwail Mohammad Yousef AFHashel Global Finance regularly selects Lebanon Riad Salameh the top performers among Morocco Abdellatif Jouahri banks and other providers Paraguay Carlos Fernandez Valdovinos of financial services, These awards have become a trusled South Korea Lee Ju-yeol standard of excellence for the global financial community. The Central Bankers earning an "A-" grade are:

Brazil llan Goldfajn Bulgaria Dimitar Radev Colombia Juan Jos6 Echavarria To obtain rights to use the Georgia Koba Gvenetadze G/obal Frnance World's Best United Kingdom Central Banker 2018 logo or Uruguay Mario Bergara any oiher Global Finance logos, please contact Central Bank Governors who received an "A" or "A-" grade will ba honored Global Financa's at Chris Gianaputo at: '13 25th Annual Best Bank Awards in Bali at the lnaya Putri Bali on the morning ol October [email protected] during lhe IMF/VVorld Bank Annual Meetings. The unauthorized use of page 1 of 5 Global Finance logos is strictly prohibited. For editorial information please contact: Andrea Fiano, editor, email: [email protected] Press Release Global Finance's Central Banker Report Gards 2018

CENTRAL BANKERS 2018 GRADE 2017 GRADE The Americas Argentina Luis Caputo Too early to say B-** Bahamas John Rolle B N/A- Bolivia Pablo Ramos S6nchez B B+ Brazi! llan Goldfajn A- A- Canada Stephen Poloz B+ B+ Chile Mario MarcelCullell A B Colombia Juan Jos6 Echavarria A. B Costa Rica Olivier Castro P6rez C+ B+ Dominican Republic H6ctor Valdez Albizu B+ A-

Eastern Caribbean Central N/A- Bank Timothy Antoine B Ecuador Ver6nica Artola B+ Too early to say ElSalvador Oscar Cabrera Melgar B B+ Guatemala Sergio Francisco Resinos Rivera B- B Honduras Wilfredo Cerrato Too early to say A"* Jamaica Brian Wynter B. B Mexico Alejandro Diaz de Leon Too early to say B** Nicaragua Leonardo Ovidio Reyes Ramirez c B+ Paraguay Carlos FernAndez Valdovinos A A Peru Julio Velarde Flores B+ B+ Trinidad and Tobago Alvine Hilaire G+ N/A* United States Too early to say A** Uruguay Mario Bergara A- B+ Venezuela Calixto Ortega S6nchez Too early to say Fr*

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CENTRAL BANKERS 2018 GRADE 2017 GRADE Europe Belarus Pavel Kallaur B c Bulgaria Dimitar Radev A- B Gzech Republic Jiii Rusnok B c Denmark Lars Rohde C B European Union Mario Draghi A B+ Georgia Koba Gvenetadze A- N/A* Hungary Gy6rgy Matolcsy C D lceland M6r Gu6mundsson B+ B Norway Oystein Olsen B B Poland Adam Glapinski C c Romania Mugur lsirescu C c Russia Elvira Nabiullina A A Sweden Stefan lngves B B+ Switzerland Thomas Jordan B B-

Turkey Murat Qetinkaya D B Ukraine Yakiv Smolii C Too early to say** United Kingdom Mark Carney A. B

25th Annual Best Bank Awards Ceremony Central Bank Governors who received an "A" or "A-" grade will be honored at Global Finance's 25lh Annual Best Bank Awards in Bali at the lnaya Putri Bali on the morning of October 13 during the lMFAfforld Bank Annual Meetings. For more information on the awards andlor ceremony please contact: Bobby Cohen, email: [email protected].

page 3 of 5 Press GtoseL Release -trINAT\CE Global Finance's Central Banker Report Gards 2018

CENTRAL BANKERS 2018 GRADE 2017 GRADE Asia-Pacific - Australia Philip Lowe A A

Azerbaijan Elman Rustamov B C

Bangladesh Fazle Kabir D B China Too early to say U+

Hong Kong Norman Chan B- B- lndia B+ B+ lndonesia Too early to say B** Japan B+ B+ Kazakhstan Daniyar Akishev B B Malaysia Nor Shamsiah Mohd Yunus Too early to say B+**

Myanmar Kyaw Kyaw Maung B- C+ Nepal Chiranjibi Nepal C+ C+ New Zealand Adrian Orr Too early to say Too early to say**

Pakistan Tariq Bajwa B Too early to say

Philippines Nestor Espenilla Jr. B+ Too early to say

Singapore Ravi Menon B B- South Korca Lee Ju-yeol A B Sri Lanka lndrajit Coomaraswamy B B+ Taiwan Yang Chin-long Too early to say A**

Thailand Veerathai Santiprabhob B C+ Uzbekistan Mamarizo Nurmuratov c- Too early to say Vietnam Le Minh Hung B+ B-

page 4 of 5 Press Gronar Release -trINAI\TCE Global Finance's Gentral Banker Report Gards 2018

CENTRAL BANKERS 2018 GRADE 2017 GRADE Middle East & Africa Algeria Mohamed Loukal B- B.

Angola Jose de Lima Massano Too early to say - B-** Bahrain Rasheed al-Maraj C c

Bank of Central African Abbas Mahamat Tolli B N,/A* States Botswana Moses Pelaelo B+ B+

Central Bank of West African B+ N/A" States Ti6moko Meyliet Kon6

Democratic Republic of D6ogratias Mutombo Mwana Nyembo C- Congo c Egvpt Tarek Amer B+ B+ Ethiopia Yinager Dessie Too early to say B** Ghana Ernest Addison B Too early to say

lraq Ali Mohsen lsmail Al-Alaq B D

Jordan ZiadFariz C A- Kenya Patrick Nloroge B B- Kuwait Mohammad Yousef Al-Hashel A B+

Lebanon Riad Salameh A A Morocco Abdellatif Jouahri A A

Namibia lpumbu Shiimi B B- Nigeria Godwin Emefiele c D Oman Tahir bin Salim Abdullah AlAmri B- B'* Qatar Abdulla Bin Saoud Al-Thani B B SaudiArabia Ahmed Alkholifey B+ B+ South Africa C+ c Tanzania Florens Luoga Too early to say c** Tunisia Marouane el-Abassi Too early to say B** Uganda Emmanuel Tumusiime-Mutebile B- C+

United Arab Emirates Mubarak Rashed Al Mansoori B B+

* -. Central Bank Governor was not graded in2017 | Applied to a prior Central Bank Governor For editorial information please contact: Andrea Fiano, editor, email: [email protected] Page 5 of 5 ###