Economic Stability Is Real but Still Young – Dr. Asiama
By Praisebell Rosemond Larbi
Governor of the Bank of Ghana (BoG), Dr. Johnson Asiama, has affirmed that Ghana’s economic stability is genuine but cautioned that the gains remain young and vulnerable to both domestic and external pressures.
Addressing participants at the maiden Pan-African Central Bank Governors’ Conference in Accra, Dr. Asiama said that while signs of economic recovery are evident across parts of the continent, stability still faces critical tests. He stressed that current gains must be protected with sustained discipline, credible policymaking, and strengthened institutional cooperation.
“Colleagues, as we stand at a reflection point, economic growth is returning in many of our countries. Beneath this growth across the continent lies our fragility. “We still have to contend with high borrowing costs and fiscal constraints. In other words, our stability is real, but it is still being tested,” he said.
Dr. Asiama emphasised that continued stability depends heavily on transparent and well-timed policy interventions, noting that the global economy remains uncertain and exposed to shocks that can quickly spill over into domestic markets. He urged his fellow central bank governors to approach their roles not only as policymakers but as “custodians of public trust,” responsible for safeguarding macroeconomic confidence.
He further highlighted the need for deeper coordination between monetary and fiscal authorities, improved reserve management, and stronger response mechanisms to manage external shocks. These, he said, are essential to reinforce the foundations of economic resilience across African economies.
The conference’s agenda featured high-level discussions on macroeconomic stability, exchange rate movements, inflation-targeting frameworks, digital currencies, fintech innovation, and regional monetary cooperation. Participants also examined how African central banks can better align policy tools in an increasingly integrated global financial system.
The two-day event served as a strategic platform for sharing experiences and best practices, with the aim of strengthening policy frameworks and reinforcing institutional credibility across the continent.
Co-hosted by the Bank of Ghana and the Bank of England, the conference brought together central bank governors, deputies, and senior officials from across Africa. The engagement also formed part of the long-standing Bank of Ghana–Bank of England Technical Cooperation Program focused on supporting leadership resilience, regulatory enhancement, and knowledge exchange in central banking
