The newly appointed Governor of the Bank of Ghana (BoG), Dr. Johnson Pandit Asiama, has pledged to lead the central bank in resetting Ghana’s economy through decisive reforms and prudent policies, including the use of artificial intelligence (AI) to tackle inflation.
Speaking during his swearing-in at the Jubilee House on February 25, 2025, Dr. Asiama outlined a six-point agenda aimed at stabilizing the macroeconomy, addressing inflation, and restoring public trust in the financial system.
He committed to recalibrating the BoG’s monetary policy strategy by leveraging advanced data analytics and AI to manage inflation more effectively.
He also emphasized the importance of improving communication with banks and ensuring policy consistency.
“We shall adopt a more proactive and precise approach to managing inflation, leveraging advanced data analytics and artificial intelligence. Additionally, we shall coordinate policy efforts with other government agencies, such as managing food prices,” he stated.
“We shall be consistent in our policy actions to avoid sending conflicting signals, as has happened in the recent past, and we shall work to enhance monetary policy implementation,” he added.
The new BoG Governor also vowed to curb currency speculation and excessive volatility by implementing strategic interventions, including a new foreign exchange law and reforms to strengthen Ghana’s forex market.
“My second priority is to preserve exchange rate stability and limit excessive volatility in the rates. The days of currency speculation and exchange rate instability must come to an end, and we are determined to ensure this happens.
“In this regard, the Bank of Ghana, under my leadership, will engineer a well-functioning and stable foreign exchange market to support economic activity,” he assured.
ID/MA
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