President John Dramani Mahama has advised the leadership of the Central Bank to be guided by recent reckless decisions that plunged the economy into crisis.
He also urged the two senior officials of the bank to be pragmatic and go beyond mere technical considerations in their policy decisions to restore investor confidence.
President Mahama was speaking at the swearing-in of Dr Johnson Pandit Kwesi Asiama as the Governor of the Bank of Ghana and Dr Zakari Mumuni as the First Deputy Governor.
He pledged his full commitment to ensuring the Central Bank operates independently and is guided by its mandate to build a resilient economy.
“Ghana’s financial sector is in crisis, and the huge task ahead demands your experience, foresight, and decisive leadership. With Dr. Asiama, I am confident that we will rebuild trust, restore stability, and put our economy on a sustained growth path. I entrust him with this responsibility, knowing he will serve with diligence and excellence”, he added.
Citing the recent banking history, the President expressed concern about the political interference that resulted in the loss of thousands of jobs and lives, as decisions were made with a narrow focus rather than considering the human impact.
“When governments resort to unsustainable consumption expenditures financed by excessive and unregulated money printing, the consequences are severe— from spiraling inflation and erosion of incomes to driving millions into poverty. Such actions not only weaken public confidence in financial institutions but also threaten long-term stability.”
Mr Mahama pledged to ensure that the bank’s operations are guided solely by its mandate—one where policies are driven by discipline, foresight, and the best interests of the Ghanaian people.
Source: Presidency.gov.gh
