Prof Gatsi, John Kwakye join BoG’s monetary Policy Committee as Advisors

The Bank of Ghana (BoG) has appointed three advisors to its Monetary Policy Committee (MPC). This move aims to strengthen the country’s monetary policy and macroeconomic stability.

The new advisors are Dr. John Kwabena Kwakye, Prof. John Gatsi, and Dr. Francis Kumah. Dr. Kwakye is the Director of Research at the Institute of Economic Affairs (IEA). Prof. Gatsi is the Dean of the University of Cape Coast Business School. Dr. Kumah is a seasoned economist and former IMF Resident Representative.

Governor Dr. Johnson Pandit Asiama announced these appointments during the 124th MPC meeting in Accra on May 21, 2025. He described the trio as “distinguished professionals” with deep expertise and policy insight. They are expected to enhance evidence-based decision-making.

Dr. Asiama noted that these appointments are part of efforts to modernize monetary policy perspectives. He mentioned that Prof. Gatsi’s expertise would help advance non-interest (Islamic) banking in Ghana.

The ongoing MPC meeting is crucial for evaluating the Ghana cedi's recent 19% appreciation this year. The committee will also monitor market confidence and assess medium-term inflation trends amid easing pressures globally and domestically. The next policy rate decision will be announced at a press briefing on Friday, May 23.

Additionally, there are concerns about exchange rate disparities at ports being "unjustified," according to the Freight Chamber.