8. Masaaki Shirakawa

2012 Grade: C-

2011 Grade: C

Country: Japan

Core Inflation: 0.2 Percent

Unemployment Rate: 4.4 Percent

Benchmark Interest Rate: 0.1 Percent

Masaaki Shirakawa, who has been Governor of the Bank of Japan (BOJ) since 2008, comes in as the third worst official on the list. Shirakawa received a 'C-' grade; lower than last year's 'C'. Japan, which is the world's third largest economy is the only developed economy to make to the list. Japan has been facing deflation that has plagued the country for more than a decade.

9. Pedro Delgado

2012 Grade: D

2011 Grade: N/A

Country: Ecuador

Core Inflation: 5.09 Percent

Unemployment: 5.19 Percent

Benchmark Interest Rate: 0.2 Percent

Pedro Delgado, who is the President of Ecuador's central bank, has made his first appearance in the central bankers list with a 'D' grade. U.S. dollar was announced the official currency of Ecuador in 2000 after a debt default. The new official bank note brought stability to the oil-exporting economy of Ecuador, but then the lack of local currency has limited the central bank's monetary policy tools to fight inflation.

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