South African Reserve Bank governor Lesetja Kganyago may have been feeling the cold in Davos, Switzerland, last week, where he participated in the World Economic Forum. However, the rest of the world has embraced him warmly, with the International Monetary Fund (IMF) having appointed Kganyago the new chairperson of the International Monetary and Financial Committee (IMFC). The IMFC is made up of Finance Ministers and central bank governors and normally meets twice a year. It is the primary advisory body of the IMF board of governors.