ACCRA, Feb. 26 (Xinhua) — Johnson Asiama, Ghana’s newly-appointed central bank governor, has pledged to introduce a raft of reforms to restore macroeconomic stability and tame structural deficiencies in the economy.
Asiama made the pledge on Tuesday after he was sworn into office by President John Dramani Mahama, saying achieving macroeconomic stability requires monetary and exchange-rate policy reforms and fiscal austerity measures to reduce fiscal risks and create a stable economic environment.
“The first priority of my leadership is to recalibrate our monetary policy strategy and enhance the policy framework to achieve our mandate more efficiently. Under my leadership, our policies will be clear, predictable, and responsive to emerging threats,” he said.
“We shall adopt a more proactive and precise approach to managing inflation, leveraging advanced data analytics and artificial intelligence,” Asiama said, adding that the central bank would pursue reforms to enhance transparency and the effectiveness of monetary policy implementation.
“My second priority is to preserve exchange rate stability and limit excessive volatility in the rates,” he said. “The days of currency speculation and exchange rate instability must end.”
The Bank of Ghana would engineer a well-functioning and stable foreign exchange market to support economic activity, Asiama said.
According to the central bank, Ghana’s macroeconomic environment improved in 2024, thanks to reforms backed by the International Monetary Fund, after years of economic crisis.
