Ghana’s President, John Dramani Mahama, has nominated Johnson Asiamah as the next Governor of the Bank of Ghana, pending approval from the Council of State.
Asiamah, a seasoned banking professional, brings over 23 years of experience to the role. He previously served as the second deputy governor from 2016 to 2017.
In a statement, the president’s office praised Asiamah’s expertise in monetary policy and exchange rate management, highlighting his contributions to maintaining financial stability and promoting economic growth.
The announcement comes as the current governor, Ernest Addison, is set to retire at the end of March. Addison will take a leave of absence starting February 3.
President Mahama, sworn in earlier this month, is focused on revitalizing Ghana’s economy. He has committed to addressing the country’s economic challenges, which include instability in key sectors like cocoa and gold.
Despite these difficulties, Mahama’s government has yet to release its formal economic policy. This delay was one of the reasons cited by the central bank for its decision to keep its key lending rate unchanged in January.
The Bank of Ghana has set an inflation target of 8%, with a margin of 2 percentage points. However, inflation has remained stubbornly high, reaching over 23% in December.
The central bank’s latest forecast suggests that it will take longer than anticipated for inflation to return to its desired range of 6%-10%.