Dr Zakari Mumuni, First Deputy Governor of the Bank of Ghana
The Bank of Ghana anticipates a decline in inflation rates in the near future, driven by the strict monetary policies currently in place.
First Deputy Governor of the Bank of Ghana, Dr Zakari Mumuni, stated that the country’s inflation rate is projected to decline further toward the year-end target of 12%, as a result of the Bank’s tight monetary policy stance.
Dr Mumuni made these remarks while speaking at the Ghana Diaspora Investment Forum in Accra.
He highlighted the improved macroeconomic environment as a key factor that will support the reduction in inflation.
“Macroeconomic fundamentals are projected to improve further to create a business-friendly environment for investors, while growth is projected to remain strong throughout the year,” he said.
The First Deputy BoG Governor also noted that remittance inflows have become vital to Ghana’s foreign exchange reserves.
He also expects that ongoing reforms to tighten foreign exchange rules will help reduce remittance costs.
Dr Zakari stated that the Bank of Ghana has enhanced security and transparency measures to encourage greater investment from diaspora communities.
He further mentioned that the Central Bank will continue to develop innovative financial solutions tailored to the needs of the diaspora, to facilitate their investments and settlement plans.
DR/MA
