The newly appointed Governor of the Bank of Ghana, Dr. Johnson Asiama, has announced plans to introduce key reforms aimed at enhancing transparency in the central bank’s decision-making process.
Speaking at the opening of the 123rd Monetary Policy Committee (MPC) Meeting in Accra, Dr. Asiama acknowledged growing public concerns that MPC decisions are made behind closed doors without adequate data-driven explanations.
To address this, he proposed the publication of meeting minutes and voting patterns of committee members, a move he believes will deepen public trust in the bank’s policy framework.
“We need to work on simplifying the way we present forecasts so the public and participants can better understand the underlying policy story. If we are able to do this, I’m sure the public and businesses will have trust in the decision we make,” he said.
Dr. Asiama also urged fellow MPC members to support efforts to open up their processes, allowing the public to better appreciate the rationale behind their decisions.
Additionally, he revealed that the committee will hold a media engagement on Friday, March 28, during which it will announce its decision on the policy rate and provide an update on the state of the economy.
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Osman Issah Abadoo
