Bank of Ghana Trains Journalists to Enhance Reporting on Monetary Policy Issues
The Bank of Ghana (BoG) has commenced a four-day capacity-building workshop for journalists to enhance their understanding and reportage on the operations and policies of the Central Bank.
The workshop, which began on Wednesday, October 15, and is scheduled to end on Saturday, October 18, is being held in Sunyani in the Bono Region.
Participants are being taken through modules on accurate financial reporting, the mandate and regulatory role of the Bank, inflation dynamics in Ghana, interpretation of Monetary Policy Committee (MPC) statements, developments in the foreign exchange market, and understanding the Central Bank’s balance sheet.
Director of Communications at the Bank of Ghana, Bernard Otabil, underscored the importance of the initiative, noting that journalists play a pivotal role in shaping public understanding of economic and monetary issues.
“Journalists are only as good as their understanding of the issues that they are reporting on. Therefore, the Central Bank has adopted the approach of engaging journalists in a knowledge update session that involves rigorous training and dialogue on financial and economic issues to boost their understanding of the Bank’s activities and the economy,” he stated.
He explained that the initiative is also a proactive step to address misinformation and disinformation, which have become major threats in today’s digital economy.
Mr Otabil stressed that the Bank’s primary mandate of maintaining price stability is often misunderstood by the public, highlighting the crucial role journalists play in demystifying monetary policy.
“Whereas the inflation story may be common to every economic agent, the untold story of how high and unstable inflation could rob us of our hard-earned savings is not being echoed enough. As a central bank, our commitment is to ensure that inflation is not only stable but also low, which we have defined as a medium-term target of 8 ± 2 per cent,” he said.
He further urged journalists to uphold truth and professionalism in their work, adding that their reportage significantly influences investor decisions and market confidence.
“Your work informs investor decisions, influences market action, and ultimately defines the country’s growth path. We must eschew diabolic interests that could harm the nation and stay on the course of patriotism regardless of the difficulties we face,” Mr Otabil remarked.
He called for collaboration between the media and the Central Bank to enhance public awareness and promote accurate, timely, and insightful economic reporting.
“Let’s work together to elevate media professionalism and provide the public with accurate, timely, and insightful information about the economy,” he added.
The workshop aims to strengthen media capacity in reporting monetary and financial sector developments accurately, thereby promoting public understanding of the Bank’s role in maintaining macroeconomic stability.
