Vice President Prof. Jane Naana Opoku-Agyemang swearing within the Board of Administrators
The Governor of the Financial institution of Ghana (BoG) Dr. Johnson Asiama has pledged to revive the monetary power of the central financial institution.
He assured that the Board of Administrators will work onerous to revive confidence and the integrity of the financial institution.
The Finance Minister, Dr. Ato Forson throughout the presentation of the 2025 Finances disclosed that the BoG wants GH₵53 billion bailout to deal with its destructive fairness place. Subsequently, Dr. Forson suggested the BoG to discover inner cost-cutting measures as a substitute of counting on taxpayer funds for the GH₵53 billion bailout to deal with its destructive fairness place.
Dr. Asiama has assured that the financial institution will use strategic measures to cut back inflation and strengthen the monetary place of the financial institution. He made the pledge on the inauguration of the Board of Administrators of the financial institution in Accra at this time, March 13, 2025.
“Our mission is evident: we should restore confidence within the Financial institution of Ghana, uphold value stability, strengthen our monetary place, and reinforce good governance”, he stated.
He identified that the board is made up esteemed professionals with huge experience.
Dr. Asiama stated the board can be guided by the financial institution’s coverage course and make sure that the challenges going through the BoG are resolved with boldness, integrity, and accountability.
“The function of the Financial institution of Ghana has by no means been extra essential. We stand at a time of serious financial challenges—macroeconomic instability, rising inflationary pressures, foreign money volatility, and monetary constraints—all of which demand pressing and strategic motion”, he stated.
He said that the choices that can be taken by the board won’t solely form the way forward for the financial institution but additionally affect companies, households, and the general financial system.
“This morning’s inauguration offers us a possibility to reaffirm our dedication to excellence, transparency, and independence in our financial and monetary insurance policies”, he stated.
Chairperson of the swearing in ceremony, Vice President Prof. Naana Jane Opoku-Agyemang charged the Board of Administrators to revive confidence within the monetary sector and ensure their actions are in step with authorities’s agenda of resetting the financial system.
She said that the success or in any other case of the federal government relies upon to a big extent, on the efficiency of the central financial institution.
“The President’s social contract with the individuals of Ghana to reset, rebuild and restore public belief and macro-economic stability, via responsive monetary sector governance and sound financial insurance policies rests in your shoulders because the Board, in equal method because the Cupboard, the Minister for Finance and all different key stakeholders”, she careworn.
She advocated a system that may enable particular person and collective experience to steer governance of the financial institution, to make sure that the President’s financial agenda of resetting the nation is achieved.
“Pretty much as good company governance requires of all new Boards, I urge you to look at the present insurance policies of the financial institution to make sure that such insurance policies are aligned with main up to date insurance policies and extra importantly, that it’s aligned to authorities’s social contract with the individuals of Ghana”, she suggested.
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