BoG names three advisors to strengthen Monetary Policy
The Bank of Ghana (BoG) has appointed three advisors to its Monetary Policy Committee (MPC) as part of efforts to enhance the formulation of monetary policy and support macroeconomic stability.
The newly appointed advisors are Dr. John Kwabena Kwakye, Director of Research at the Institute of Economic Affairs (IEA); Prof. John Gatsi, Dean of the University of Cape Coast Business School; and Dr. Francis Kumah, a seasoned economist and former International Monetary Fund (IMF) Resident Representative.
Their appointments were officially announced by the Governor of the Bank of Ghana, Dr. Johnson Pandit Asiama, during the opening of the 124th MPC meeting in Accra on May 21, 2025. He described the trio as distinguished professionals whose technical expertise and policy insight will contribute to more robust, evidence-based decision-making.
The appointments are part of broader efforts by the central bank to modernise its monetary policy approach and incorporate a wider range of perspectives.
The ongoing MPC meeting is taking place at a critical time for Ghana’s economy. The central bank is currently assessing the sustainability of the Ghana cedi’s 19% year-to-date appreciation, renewed market confidence, and the medium-term inflation outlook amid easing global and domestic pressures.
The Committee’s next policy rate decision is expected to be announced at a press briefing on Friday, May 23. In addition to his role on the MPC, Prof. Gatsi’s expertise is expected to support Ghana’s efforts to advance non-interest (Islamic) banking — a growing area in the country’s financial sector reform agenda.
