Shrewd Measures Earns BoG Governor SSA Central Bank Governor of the Year

The Globalmarkets has adjudged Dr. Ernest Addison, the Governor of the Bank of Ghana as the Central Bank Governor of the Year for sub-Saharan Africa (SSA) for implementing ‘shrewd’ measures to “minimise the economic impact of the lockdown”.

Each year Globalmarkets organises its prestigious awards ceremony to recognise the Finance Minister and the Central Bank Governor of the Year, during the IMF/World Bank annual meeting.

“This is a must-attend event that recognises the achievements of the top policy makers from around the world”.

“Globalmarkets is the newspaper published at the IMF/World Bank, European Bank for Construction & Development, Asian Development Bank and the Inter-American Development Bank annual meetings”.

The Bank of Ghana released a statement on Thursday, October 15, 2020, saying, the award is to acknowledge the Governor of the Bank of Ghana’s outstanding performance in managing the coronavirus pandemic that hit the global community and for instituting measures geared towards supporting the government’s transformational agenda together with making sure that Ghana’s financial sector remained safe and sound.

“The award is in recognition of the Governor’s exceptional leadership in managing the coronavirus pandemic, which has seen the Central Bank introduce a raft of measures aimed at supporting the government’s transformational agenda and ensuring the safety and soundness of Ghana’s financial sector”.

Also, the statement issued by the Bank of Ghana iterated that according to the Globalmarkets, “The Ghanaian central bank has drawn praise for its shrewd handling of the coronavirus crisis. The bank was able to accelerate its monetary policy loosening in order to support the economy. As well as cutting the key interest rate to 14.5%, the central bank also eased lenders’ reserve requirements, making it easier for banks to provide liquidity to sectors hit by the virus. This, and the reduction in banks’ conservation buffer, have helped to keep the Ghanaian economy afloat. The decisions you have taken have been well received by international investors and will support the economy’s recovery once the worst of the crisis has abated”.