PAPUA New Guinean Treasurer Don Polye will become the next chairman, for 2014, of the boards of governors of the International Monetary Fund and the World Bank.
The chairmanship rotates through the five main regions every year, and PNG's representative among the governors has gained the support of the Asia-Pacific region.
The IMF's Asia-Pacific executive director, Jong-won Yoon, said he was delighted that a Pacific nation would hold this office next year.
"This role affords PNG the opportunity to showcase itself in the international arena," he said.
The position of chairman will be formally approved by the governors -- who comprise the finance ministers or treasurers of the 188 member countries -- at the annual meetings of the fund and bank next month in Washington DC.
Luxembourg Finance Minister Luc Frieden is this year's chairman, whose chief role is to preside over the annual meetings and the less well-attended meetings that take place in the northern spring.
Most policy directions for the organisations come from their executive boards -- comprising the president and 25 directors for the World Bank and the managing director and 24 directors for the IMF.
But some key decisions require the endorsement of the governors.
Polye, 46, has an MBA from Southern Cross University in NSW and worked as an engineer and a project manager before being elected to parliament in 2002, for the Kandep constituency in Enga province.
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