By: Franklin ASARE-DONKOH
The Bank of Ghana (BoG) has appointed the Director of Research at the Institute of Economic Affairs (IEA), Dr. John Kwabena Kwakye, Dean of the University of Cape Coast (UCC) Business School, Prof. John Gatsi, and a seasoned economist and former IMF Resident Representative, Dr. Francis Kumah, as advisors to its Monetary Policy Committee (MPC).
According to managers of the country’s central bank, the three advisors are to strengthen the country’s monetary policy formulation and macroeconomic stability.
Their appointments were announced at the opening of the 124th MPC meeting in Accra on May 21, 2025, by the central bank’s Governor, Dr. Johnson Pandit Asiama.
Dr. Asiama described the trio as “distinguished professionals with deep technical expertise and policy insight” who are expected to contribute to more robust, evidence-based decision-making.
He explained that the appointments of Prof Gatsi, Dr Kwakye, and Dr. Kumah are part of broader efforts to modernise and diversify the perspectives informing monetary policy.
According to him, Prof. Gatsi’s expertise would also be instrumental in advancing Ghana’s implementation of non-interest (Islamic) banking.
The ongoing MPC meeting comes at a crucial time, as the central bank evaluates the sustainability of the Ghana Cedi’s recent 19% year-to-date appreciation, monitors renewed market confidence, and weighs the medium-term inflation trajectory 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, 2025.
