Three expert advisors join BoG’s Monetary Policy Committee
By Solomon Nartey Solomon
The Bank of Ghana (BoG) has appointed three top economists as advisors to its Monetary Policy Committee (MPC) to help sharpen policy decisions and bolster 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
Dr. Francis Kumah, former IMF Resident Representative and seasoned economist
Their appointments were announced by BoG Governor Dr. Johnson Pandit Asiama at the opening of the 124th MPC meeting in Accra on May 21, 2025.
Describing the trio as “distinguished professionals,” the Governor emphasized that their technical depth and policy insight would help drive more robust and evidence-based decision-making.
“We are expanding the policy space with experts whose perspectives will enrich our approach to monetary policy in these challenging times,” Dr. Asiama said.
The appointments are part of BoG’s broader strategy to modernize monetary policy processes and incorporate diverse economic perspectives.
The timing is critical, as the MPC meeting comes while the central bank evaluates the sustainability of the cedi’s 19% year-to-date appreciation, improved market confidence, and shifting inflation dynamics in both domestic and global contexts.
The MPC is expected to announce its next policy rate decision at a press briefing on Friday, May 23. In a notable development, Prof. Gatsi’s advisory role will also support Ghana’s push toward expanding non-interest (Islamic) banking, a growing priority in the country’s financial sector reforms.
