Macroeconomic instability, rising inflationary pressures, currency volatility demand urgent & strategic action to tackle – Asiama

The newly constituted Board of the Bank of Ghana (BoG), led by Governor Dr. Johnson Asiama, has assumed office at a time of significant economic challenges, including macroeconomic instability, rising inflation, currency volatility, and fiscal constraints.

Speaking at the inauguration ceremony on Thursday, March 13, Dr. Asiama emphasized the urgent need for strategic action to navigate these difficulties.

He assured that the new board, composed of professionals with diverse expertise, is committed to financial stability, sound monetary policy, and economic resilience. “Our mission is clear: we must restore confidence in the Bank of Ghana, uphold price stability, strengthen our financial position, and reinforce good governance,” he stated.

Vice President Professor Jane Naana Opoku-Agyemang, who swore in the board, underscored the critical role of the BoG in achieving the government’s agenda to reset, rebuild, and restore public trust in economic governance.

She stressed the need for dynamic and innovative leadership to address Ghana’s economic challenges and praised the government’s efforts in achieving gender parity, with over 40% female representation on the board.

Dr. Asiama outlined key priorities under his leadership, including strengthening prudential regulations, addressing non-performing loans, enhancing risk management practices, and modernizing financial regulations to support economic growth.

He also pledged to work closely with financial institutions and regulators to ensure that Ghana’s financial system remains stable, inclusive, and ready for the future.