The Bank of Ghana (BoG) has announced the appointment of three advisors to its Monetary Policy Committee (MPC) as part of measures to consolidate the country’s monetary policy regime.
They are the Director of Research at the Institute of Economic Affairs (IEA), Dr. John Kwabena Kwakye; the Dean of the University of Cape Coast Business School, Prof. John Gatsi; and a former International Monetary Fund (IMF) Resident Representative, Dr. Francis Kumah.
The BoG's Governor, Dr Johnson Pandit Asiama, made this known at the 124th meeting of the MPC, which opened in Accra today (May 21).
Dr Asiama explained that the three would bring their enormous expertise and knowledge to bare as the MPC sought to take key monetary policy decisions to put the economy on a sound footing.
For instance, he said Prof. Gatsi would be expected to introduce innovations on the implementation of non-interest banking.
The MPC, which began its meeting today, is expected to, among other things, ascertain whether the observed rate of change in the exchange appreciation was sustainable; how durable the return of market confidence could be; and the implications of those dynamics regarding inflation forecast over the medium-term.