“Leading a Central Bank Has Never Been for the Faint-Hearted” – Dr. Asiama
By Praisebell Rosemond Larbi
The Governor of the Bank of Ghana, Dr. Johnson Asiama, has opened up about the intense pressures, evolving demands, and hidden emotional toll of central banking in the modern era, describing the job as one that “has never been for the faint-hearted.”
Speaking at the maiden Bank of Ghana–Bank of England Pan-African Central Bank Governors’ Conference in Accra, Dr. Asiama addressed his colleague governors from Africa and beyond, sharing candid reflections on the realities of steering monetary policy in a rapidly shifting global environment.
“Leading a central bank has never been for the faint-hearted, as in recent times our roles have shifted. And let me be honest, no one really tells you this before you become Governor. You never sleep the same again,” he remarked.
He noted that the responsibilities of central bank governors have stretched across multiple dimensions of complexity, with the stakes becoming higher and the expectations ever more intense. “We find ourselves checking our phones not for messages, but for markets, as even silence feels like a signal,” he said.
Yet, despite the unrelenting pressure and the “sleepless nights,” Dr. Asiama said there remains something profoundly purposeful about the role. “There is something extraordinary about this calling, the quiet knowledge that, in moments of uncertainty, the country still trusts us to steady the ship.”
He added that central bank leaders are now expected to deliver price stability, ensure financial soundness, and simultaneously support economic growth. “This is expected to translate from models into judgment, policies, and impatient citizens,” he explained.
Quoting an analyst: “Central bankers are expected to predict the future, and then be blamed for not changing it fast enough,” he noted.
The conference, held from November 10 to 11, 2025, brought together representatives of 23 central banks under the theme: “Central Bank Governance: Leadership, Credibility, and Resilience in African Central Banking.” It is part of the long-standing Bank of Ghana–Bank of England Technical Cooperation Program, supported by the UK Foreign, Commonwealth and Development Office (FCDO).
Touching on Ghana’s recent economic direction, Dr. Asiama highlighted the decisive steps taken by his administration since assuming office. “When my team and I assumed office in 2025, our single focus was stabilisation. We tightened policy, sterilised liquidity, and spoke frankly with markets and citizens alike.”
He said these actions contributed significantly to ongoing stabilisation efforts. “Behind those numbers is the story of a country that chose discipline over despair. I share this not as self-congratulation, but as proof of principle: credibility and transparency work. Discipline works. And perhaps most importantly, patience works.”
The two-day engagement continues to explore ways central banks can exchange regulatory insights, strengthen leadership resilience, and sustain credibility amid complex domestic and global economic pressures.
