Governor of the Bank of Ghana (BoG), Dr. Johnson Asiama, says accruing stability in Ghana’s economy has been the result of discipline, restraint, and sustained institutional effort.
Speaking at a New Year media briefing on Friday, January 16, Dr. Asiama highlighted the landmark reforms that have strengthened the central bank’s independence and enhanced its ability to safeguard the economy.
“On the legislative front, significant institutional reforms were secured. Parliament passed the Bank of Ghana Amendment Bill 2025, strengthening Central Bank independence, enhancing accountability, and reinforcing safeguards around Central Bank financing of government. And that piece of new legislation is an important one,” he said.
Reflecting on past challenges, Dr. Asiama noted, “If we had that in 2022, maybe, just maybe, we wouldn’t have had the haircuts; we would have been compelled probably to seek help from the IMF more timely. And today, the results would have been different. And so with those amendments, we believe that we are better positioned going forward.”
The reforms, the Governor explained, are part of broader efforts to align Ghana’s central banking framework with international best practice.
Beyond legislation, notable progress was recorded in payments and digital finance. Through the Ghana Interbank Payment and Settlement Systems (GIPS), he said payment infrastructure was modernised, instant payment capabilities expanded, and interoperability across platforms improved.
Dr. Asiama also pointed to the passage of the Virtual Asset Services Bill, which has now been passed into law, as a milestone in establishing a regulated framework for digital assets, providing a foundation for orderly growth in emerging sectors.
“These efforts collectively have helped restore macroeconomic stability, improve coordination between monetary and fiscal authorities, and place the economy on a firmer footing,” he said.
Dr. Asiama reminded stakeholders that the gains achieved carry a responsibility.
“They carry with them a responsibility to protect stability, to act with humility, and to remain faithful to the public trust placed in the Bank of Ghana,” he said.
- President Commissions 36.5 Million Dollars Hospital In The Tain District
- You Will Not Go Free For Killing An Hard Working MP – Akufo-Addo To MP’s Killer
- I Will Lead You To Victory – Ato Forson Assures NDC Supporters
Visit Our Social Media for More
About Author
