The Governor of the Bank of Ghana, Dr. Johnson Asiama, has pledged to stabilize the cedi to ensure it does not exceed volatility risks.
Speaking during his swearing in today, Dr. Asiama emphasized the urgent need to address currency speculation and exchange rate instability.
“Our second priority is the need to preserve exchange rate stability and limit excessive volatility in risksโ.
Affirming his commitment towards the countryโs economic growth, Dr. Asiama reiterated, “the days of currency speculation and exchange rate instability must come to an end, and we are poised to ensure just that.”
Outlining his strategic initiative for the Bank of Ghana, Dr. Asiama mentioned drafting workable policies that would not send conflicting signals to regulators as he accused the previous administration of doing.
โWe shall be consistent in our policy actions to avoid sending conflicting signals, and we shall work to enhance monetary policy implementation in generalโ.
Dr. Asiama is confident that his administration would ensure massive reforms in inflation which would foster transparency and enhance effective monetary policy implementation.
โWe shall pursue reforms in inflation targeting framework to foster more transparency and enhance the effectiveness of monetary policy implementationโ.
