The Governor of the Bank of Ghana (BOG), Dr Johnson Pandit Asiama, has engaged with CEOs of commercial banks post-Monetary Policy Committee (MPC) meeting to close the financial year.
Following the conclusion of the 127th MPC meeting, the Governor remarked on Ghana’s macroeconomic developments and the central bank’s policy decisions. Dr Asiama highlighted key prudential and regulatory directives aimed at strengthening financial stability and aligning with international best practices.
“It is always a privilege to meet with you following our Monetary Policy Committee deliberations. These moments of engagement remind us that beyond macroeconomic indicators and policy instruments lies a shared mission – the service to the Ghanaian people and a collective responsibility to build a resilient, inclusive, and prosperous economy.”
Dr Johnson Asiama, Governor of BOG
He recalled his first post-MPC engagement and how confidence was tested, uncertainty lingered at the start, and the relationship between the central bank and financial institutions needed careful rebuilding. Also, his pledge that his leadership would restore trust, balance, and collaboration.
He revealed that his “pledge is evident in the tone of our dialogues, the clarity of expectations, and the shared sense that we [Bank of Ghana] are custodians of Ghana’s financial future.”
Ghana’s Growth Progress in 2025
Ghana’s economy has thrived through cautious optimism in the global economy. While growth prospects have edged upward, the international environment remains fragile, and this is shaped by lingering trade tensions and policy uncertainty. Dr Asiama said that “notably, global inflation is easing, and financial conditions are becoming more supportive.”
“Against this uneven global backdrop, our economy, Ghana’s economy, is charting a confident, a very confident path forward into the future.”
Dr Johnson Asiama, Governor of BOG
He referenced the real GDP growth data from the Ghana Statistical Service (GSS) for the third quarter of 2025, which expanded at 5.5 percent, as “although slightly lower than the same quarter of the previous year, the performance shows resilience and adaptability of our productive sectors, while business and consumer confidence indicators for September remain buoyant.”
He commented on the persistent decline in inflation, describing it as “the most significant milestone of the year.” The steady revision of inflation to the medium target band declined to 6.3% in November 2025. He added that these unseen levels after a long time “reflect the combined impact of prudent monetary policy, disciplined fiscal management, and improved food supply conditions.”
“More importantly, underlying inflation expectations have been firmly re-anchored, providing a vital foundation for sustained growth, long-term investment, and renewed confidence among households and businesses.”
Dr Johnson Asiama, Governor of BOG
Dr Asiama mentioned that the last MPC meeting in November reduced the policy rate by 350 basis points, to 18 percent. The sector’s collective commitment is evident across all major indicators, he said.
According to the Governor, “Ghana’s external sector has emerged as a pillar of resilience,” adding that the economy is experiencing “strong export performance, led by gold and supported by cocoa, delivering substantial trade surpluses and strengthening the current account position.” Consequently, he again mentioned, the “external buffers have rebuilt considerably, enhancing our [Ghana’s] ability to withstand future shocks.”
Fiscal consolidation remains firmly on course and aligned with the broader reforms under the IMF-ECF program. Dr Asiama is confident that the policy direction ahead is clear, which is to protect hard-won stability and convert it into lasting economic progress.
He noted that commercial banks have demonstrated resilience, sound liquidity, improved capital strength, and renewed profitability after a period of significant strain.
“These gains reflect stronger confidence, improved risk management, and a regulatory framework that continues to evolve toward a more forward-looking approach.
“But while challenges remain, particularly in asset quality, the commitment of banks to responsible risk management is evident. The Bank of Ghana will continue to work closely with industry to safeguard stability and support sustainable credit growth.”
Dr Johnson Asiama, Governor of BOG
Bank of Ghana’s Plan for 2026
Looking into the coming year, the Governor emphasized that the Bank will consolidate regulatory gains through strict enforcement while expanding training and deeper engagement with the industry.
The Bank also revealed its next phase of reforms, including “new directives spanning stress testing, recovery planning, and risk management to further enhance the sector’s resilience and alignment with global best practices.” A revised risk-based supervisory framework will be introduced to strengthen forward-looking oversight by focusing on business risk, financial resilience, risk governance, and operational resilience.
The Governor also hinted that the Bank will strengthen collaboration with financial regulators and key industry bodies to safeguard systemic stability and promote a resilient, trusted, and future-ready financial sector.
His leadership aims to use these reforms to institute its vision in creating a banking sector that is modern, competitive, resilient, and capable of supporting Ghana’s long-term growth agenda.
“Our [Bank of Ghana’s] task is to consolidate these gains by deepening financial intermediation, improving credit allocation, and strengthening governance.”
Dr Johnson Asiama, Governor of BOG
Dr Asiama, therefore, urged the commercial banks to support the real sector, to expand credit to productive enterprises, especially the SMEs, and drive innovation that enhances access and inclusion while managing risk.
This year, he remarked, “was not the end of a journey. It was just the beginning of a new one. The work ahead will demand more discipline, greater discipline. It will demand deeper collaboration among ourselves, and it will demand a willingness to embrace innovation while preserving prudence.”
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