The Chief Executive Officer (CEO) of Dalex Finance, Joe Jackson, has welcomed the new Bank of Ghana (BoG) Governor’s move to implement measures to strengthen the economy.
He says the policy initiatives announced by the Governor to stable the local currency amongst others, fall under the mandate of the central bank as stipulated in the constitution.
According to Jackson, the role of the Bank of Ghana has usually been confused with that of the Finance Minister who is usually blamed for the failure of the central bank on its role.
Speaking on Ghana Tonight on TV3 Tuesday, February 25, 2025, the Dalex CEO indicated that most of the things the Finance Minister may be blamed for “may not necessarily be in his remit.”
However, stabilising the local currency and controlling inflation, according to the finance analyst, is a function of the central bank in conjunction with the Ministry of Finance, but has usually been blamed on the latter.
Mr. Jackson explained that, “his (BoG Governor) remit is to manage the finance of government to achieve its own policy goals. The governor is to make sure the cedi is stable, prices don’t go up, in collaboration with the Ministry of Finance.”
He therefore commended Dr. Asiama for prioritising a review of the forex regime, amongst other initiatives which he believes would help shape the country’s fiscal position for a booming economy.
“So therefore when the [BoG] governor comes and he says he wants to review the FX regime, we must say ‘well done Sir’,” he touted.
Jackson noted that the trajectory, as projected by Asiama, during his swearing-in, is his mandate and should be welcomed when he intends taking it up for Ghana’s economic sector.
“Because he is definitely conscious of the fact that that is one of the things that he is mandated to do, under the constitution. When he says he wants to maintain stability of prices and target and makes sure inflation is kept under control, we say well done again. That’s what you’re supposed to do,” he lauded.
Meanwhile, the Governor also promised to tackle high non-performing loans and team up with the relevant stakeholders in the sector to build a robust economy that will support businesses.
New BoG governor Asiama outlines policies aimed at strengthening banking sector
