Leading a central bank has never been for the faint-hearted – Dr. Asiama tells colleagues
The Bank of Ghana Governor, Dr. Johnson Asiama, has revealed how interesting and challenging it is to be a Central Bank Governor of any country in recent times.
He noted that “Leading a central bank has never been for the faint-hearted as in recent times our roles have shifted”
“And let me be honest, no one really tells you this before you become Governor, you never sleep the same again”, the Bank of Ghana Governor stated
He told his colleague Central Governors from Africa and other parts of the world at the maiden Bank of Ghana–Bank of England Pan-African Central Bank Governors’ Conference in Accra.
The Governor noted that the current demands of the work will always result in central banks governors “checking their phones not for messages, but for markets as even silence feels like a signal”
Dr. Asiama added that “Yet for all the sleepless nights, there is something extraordinary about this calling, the quiet knowledge that, in moments of uncertainty, the country still trusts us to steady the ship”
He noted that the responsibilities of Central Bank Governors have also been stretched across many dimensions of complexities”
The Governor of the Bank of Bank of Ghana also highlighted how Central Bank governors are being reminded to deliver “price stability, ensure financial soundness, and still support the growth as this is expected to translate into models into Judgement, policies and impatient citizens”.
“As one analyst once joked, central bankers are expected to predict the future, and then be blamed for not changing it fast enough”, he added
Dr. Asiama used the opportunity to also welcome all 23 central banks across our continent and beyond, to this maiden Bank of Ghana, Bank of England Pan-African Central Bank Governors’ Conference
Pan African Central Bank Governors meeting
The Bank of Ghana and Bank of England from today, 10 November to 11 November 20205, are engaging Central Bank Governors from Africa and other parts of the world, on ways to exchange regulation in their respective markets.
The two day meeting is under the team “Central Bank Governance: Leadership, Credibility, and Resilience in African Central Banking.” The event forms part of the long-standing Bank of Ghana–Bank of England Technical Cooperation Programme.
The conference arises from the long-standing Bank of Ghana–Bank of England Technical Cooperation Programme, supported by the UK Foreign, Commonwealth and Development Office (FCDO)
Central Bank Governors and Economic Complexities
Speaking at the same programme, the Governor of the Bank of Ghana noted that Central Bank Governors are today also caught up in the crossfire of expectations “as governments are seeking growth, politicians seeking results, businesses seeking credit, markets seeking signals”.
“ Yet our duty is to defend the long-term horizon when everyone else is watching the next quarter. Balancing these competing interests without losing credibility is an art few appreciate until they sit in the chair”, Dr. Asiama added.
The Bank of Ghana Governor added that “Every decision we make is now instantly debated, often before the official statement is even out.”
On current developments in Ghana, Dr. Asiama highlighted how the single focus on stabilising the economy and the monetary space since he took office has contributed to the current developments.
“When my team and I assumed office in 2025, our single focus was stabilisation. We tightened policy, sterilized liquidity, and spoke frankly with markets and citizens alike,” the Bank of Ghana Governor stated.
The Governor also stated that “Behind those numbers is the story of a country that chose discipline over despair”.
“I share this not as self-congratulation, but as proof of principle: credibility and transparency work. Discipline works. And perhaps most importantly – patience works”, the Governor added.
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DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
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