Serbia

Janet Yellen’s nomination for the Fed chairmanship is a significant mark in the history of female central bankery – mainly because there isn’t much of a history.

As Claire Jones, the FT’s economics reporter, points out: advanced economy central banks are severely lacking in female representation in their upper echelons.

In other markets, however, women have more of a presence in monetary policy. Outside of advanced economies, the list of women at the head of central banks is longer than the list of women on the ECB governing council (0).

Gill Marcus (Getty)

South Africa: Gill Marcus spent time in the UK as her parents were anti-apartheid activists in South Africa. She joined the ANC and worked for its department of information and publicity, then returned to South Africa after the ANC ban was lifted. She was appointed deputy minister of finance in 1996 and became deputy governor of the South African Reserve bank in 1999. After a few years working outside the central bank system, she was appointed governor in November 2009. In 2010 she said, “Developing countries are more conscious of women’s emancipation – we’ve all got better statistics in relation to gender than in the developed world. Read more

♦ Serbia plans to borrow billions from the United Arab Emirates – the country’s deputy prime minister warned that it could face bankruptcy without urgent steps to cut public sector wages.
♦ The Washington Post breaks down the effect of the US government shut down on individual departments.
♦ Ezra Klein at the Washington Post argues that “the American political system is being torn apart by deep structural changes that don’t look likely to reverse themselves anytime soon” and a “deal to reopen the government won’t fix what ails American politics.”
♦ Slate reports on how the Egyptian army is stepping up its efforts to shut down the illicit trade tunnels between Sinai and Gaza. Its campaign in north Sinai is affecting both civilians and militants.
♦ Bashar al-Assad’s regime is waging a PR campaign, spreading stories of rebels engaging in “sex jihad” and massacring Christians, according to Der Spiegel.
♦ British artist Banksy’s latest work, which focuses on Syria, has Syria-watchers bemused, the New York Times reports.
♦ The latest book from Paul Collier, co-director of the Centre for the Study of African Economies at Oxford University, examines the impact of migration and the benefits of it to migrants, host communities and those left behind. Read more

Coming up We’re pulling together some of the best reads on the “Iron Lady”. Read more

Here’s what got us talking this morning: