George Blowers

George Blowers
Born	(1906-03-05) March 5, 1906 Pineville, Kentucky, United States
Died	October 19, 1969(1969-10-19) (aged 63) Hempstead, New York, United States
Occupation(s)	Economist, banker
Years active	1928–1961
Known for	Governor of central banks of Liberia, Ethiopia, and Saudi Arabia; delegate at Bretton Woods Conference

George Blowers (March 5, 1906 – October 19, 1969) was a distinguished American economist and Harvard alumnus who held the position of governor at the central banks of Liberia, Ethiopia, and Saudi Arabia. He played a pivotal role in launching two national currencies and acted as Ethiopia’s delegate at the Bretton Woods Conference.

Early career and Liberia

Originating from Pineville, Kentucky, Blowers earned his degree from Harvard University before joining National City Bank in New York City in 1928. By 1938, he advanced to become the general manager of Liberia’s Bank of Monrovia, where he directed the shift from the West African pound, which was linked to sterling, to the Liberian dollar, pegged to the US dollar. Throughout this period, Blowers upheld American neutrality policies and resisted British efforts to dominate Liberian financial resources. His proficiency in German enabled him to facilitate the transfer of German assets through Liberia into the United States.

State Bank of Ethiopia

In 1943, Blowers was named governor of the State Bank of Ethiopia following Emperor Haile Selassie’s initiative to increase American advisory presence and reduce British influence within his administration. Although the 1942 Anglo-Ethiopian Agreement mandated British consent for foreign appointments, Ethiopia circumvented this requirement, leading to embarrassment for Blowers’ British predecessor. Subsequently, Ethiopia officially repudiated the treaty with Britain in 1944.

Beyond his governorship duties, Blowers served as an advisor to Ethiopia’s Minister of Commerce, who preferred his counsel over that of the official British adviser. He participated in the July 1944 Bretton Woods Conference, which laid the foundation for the Bretton Woods system governing international currency exchange. In 1945, Blowers supervised the reinstatement of the Ethiopian birr as a replacement for the East African shilling.

Later career

In 1948, Blowers assumed the role of deputy director at the Economic Cooperation Administration, overseeing aspects of the US Marshall Plan aimed at Europe’s postwar economic reconstruction. Recognized for his expertise on African financial matters, he led a United Nations mission in 1950 to evaluate Libya’s banking and currency framework. Subsequently, he collaborated with the International Monetary Fund.

Recommended by Arthur N Young within Harry Truman’s Point Four Program, Blowers was appointed governor of the Saudi Arabian Monetary Agency in 1952. Operating within Islamic legal guidelines, he managed Saudi Arabia’s central banking functions. Beginning with a capital base of $10 million, he significantly expanded its assets into billions and implemented reforms to the Saudi riyal during his administration.

In 1954, Blowers became director of the Export–Import Bank of the United States based in Washington, D.C., gaining recognition through special assignments across Latin America including Peru, Ecuador, and Bolivia. He retired from professional service in 1961 and passed away on October 19, 1969, in Hempstead, New York.