The Governor of the Bank of Ghana, Dr. Johnson Pandit Asiama, has assured businesses and the public that Ghana’s economy remains resilient despite ongoing global economic uncertainties.
Speaking during a stakeholder engagement in Sunyani, Dr. Asiama said the central bank is committed to strengthening its relationship with businesses and the public through greater transparency and regular engagement.
He explained that one of his key priorities since assuming office has been to make the work of the Bank of Ghana more open and accessible, while ensuring that the institution’s policies respond to the needs of businesses and citizens.
According to the Governor, although global challenges, including geopolitical tensions in the Middle East, continue to pose risks to the global economy, Ghana’s economic outlook remains positive.
He said the Bank’s Monetary Policy Committee maintained the policy rate at 14 percent to balance inflation control with the need to support business growth and investment.
Dr. Asiama noted that improving macroeconomic conditions have strengthened business and consumer confidence, leading to increased lending, higher industrial production and a gradual recovery in the tourism sector.
He also highlighted a significant decline in lending rates, saying businesses now have greater access to affordable credit.
”Lending rates have fallen, making it easier for businesses to access credit and invest. Today, rates are generally around 15 to 16 percent, and good borrowers can even access loans at lower rates. This is helping businesses expand and supporting economic growth,” he said.
The Governor reaffirmed the Bank of Ghana’s commitment to closely monitoring global economic developments while implementing policies that promote price stability, sustainable economic growth and a resilient financial system.
The Bono Regional Minister, Joseph Addae Akwaboa, commended the Governor and the leadership of the Bank of Ghana for the important stakeholder engagement initiative and expressed his commitment to continued collaboration in advancing the shared vision of a resilient national economy and a prosperous Bono Region.
On the sidelines of the engagement, the Minister took the opportunity to draw the Governor’s attention to a number of critical developmental priorities within the Bono Region.
He appealed for the Bank’s support in strategic areas where its collaboration and interventions could help accelerate inclusive economic growth, strengthen local enterprises, and create lasting opportunities for the people of the region.
The engagement reaffirmed the Bank’s commitment to fostering stronger partnerships with stakeholders across the country through greater transparency, accountability and responsiveness to the needs of businesses, investors and the general public.
It also provided a valuable platform for open dialogue on Ghana’s economic outlook and the role of the financial sector in driving sustainable national development.
By Claude Kumi Abisa
