The Governor of the Bank of Ghana, Dr. Ernest Addison, has been named by GlobalMarkets, a newspaper published digitally to cover the Virtual IMF/World Bank Annual Meeting 2020, as the Central Bank Governor of the Year for Sub-Saharan Africa.
The award is in recognition of the Governor’s exceptional leadership in managing the coronavirus pandemic, which has seen the Central Bank introduce a raft of measures aimed at supporting the government’s transformational agenda and ensuring the safety and soundness of Ghana’s financial sector.
The award to the governor of the central bank after they were presented with the prestigious Central Bank of the Year Award by the Central Banking Awards Committees following the BOG’s successful implementation of monetary policy and an impressive achievement in reforming the banking sector in Ghana.
The closure of country borders and airports with travel restrictions made it impossible for organizers of the award scheme celebrate the award winners.
But at a virtual ceremony to receive the award, the Governor of the Bank of Ghana, Dr Ernest Addison, said, It is a great privilege for the Bank of Ghana to be named the Central Bank of the Year, and I thank the team at Central Banking for the honour done us. This award reflects our vision to build a central bank of excellence that is well-respected by stakeholders and further strengthens our resolve to continue to implement sound monetary and financial sector policies.
Meanwhile, the Ghanaian central bank has drawn praise for its shrewd handling of the coronavirus crisis. The bank was able to accelerate its monetary policy loosening in order to support the economy. As well as cutting the key interest rate to 14.5%, the central bank also eased lenders’ reserve requirements, making it easier for banks to provide liquidity to sectors hit by the virus. This, and the reduction in banks’ conservation buffer, have helped to keep the Ghanaian economy afloat. The decisions you have taken have been well received by international investors and will support the economy’s recovery once worst of the crisis has abated.
said GlobalMarkets
The GlobalMarkets Awards scheme recognises the achievement of the world’s top policymakers.
