President John Dramani Mahama has sworn in the Governor of the Bank of Ghana, Dr. Johnson Asiamah and First Deputy Governor, Dr. Zacharia Mumuni.
The President, as part of the swearing in ceremony, held at the Jubilee House on Tuesday, administered to the Governor and his Deputy the oaths of office, allegiance and secrecy.
In his address, President Mahama hailed the swearing-in of the Bank of Ghana’s new leadership as a significant step toward resetting Ghana’s economy. He emphasized that the appointments of Dr. Johnson Asiamah as Governor and Dr. Zacharia Mumuni as First Deputy Governor are vital for ensuring currency regulation and financial stability.
The President highlighted the urgency of Ghana’s current financial crisis, stressing the need for leaders with proven expertise and a strong track record. According to him, both appointees possess the leadership qualities necessary to steer the economy back onto a growth trajectory.
Mahama assured the new leaders that he would not pressure them to print more money but urged them to craft monetary policies that accurately reflect Ghana’s economic realities rather than relying solely on technical considerations.
Taking a swipe at the previous Akufo-Addo administration, Mahama criticized the banking sector cleanup, accusing it of having a narrow focus that ignored the human and social costs.
He tasked the new leadership with executing their mandate effectively while avoiding unregulated money printing, which he warned could fuel inflation and undermine long-term economic stability.
“The lessons of the past remind us of the dangers of fiscal recklessness,” Mahama cautioned.
In his acceptance speech, Dr. Johnson Asiamah pledged his full commitment to stabilizing and reviving Ghana’s economy. “Your Excellency, the reset path we’ve embarked on goes beyond mere slogans,” he stated.
Dr. Asiamah further emphasized the need for a recalibration of monetary policy, calling for a proactive approach to tackle inflation and exchange rate volatility. “The days of speculation and exchange rate instability must become a thing of the past,” he assured.
