Dean of the University of Professional Studies, Accra (UPSA) Law School, Professor Ernest Kofi Abotsi has stated that the new Governor of the Bank of Ghana (BoG), Dr Johnson Asiama faces huge monetary policy challenges.
He highlighted the struggles of the Cedi, currency printing issues and borrowing from the government as some of the policy issues he faced.
Prof Abosti urged him to herald a new dawn as he takes office.
“A new governor assumes the leadership of the BOG in February. He comes to the office facing a mountain of monetary policy challenges -a cedi in flight, currency printing issues, indice worries, questionable borrowings to government. etc. Perhaps the new appointee could herald a new dawn!” he wrote on his X page.
Dr Asiama formally assumed office on Monday, February 3 when he assured financial markets that the ongoing leadership transition at the central bank would not disrupt its operations or policy direction.
He emphasized during a meeting with journalists his commitment to maintaining stability and continuity, assuring that the institution will continue to uphold its mandate effectively.
“The market should have no concerns—our work will continue without disruptions,” he stated during a meeting with the two Deputy Governors, Dr. Maxwell Opoku-Afari – who has since started his terminal leave prior to his retirement – and Elsie Addo Awadzie.
He reiterated that the transition is being handled smoothly, with key officials already familiar with one another, ensuring that policy implementation remains consistent.
“The public must see us working together because this is simply another transition,” he noted, adding that as time progresses, other key areas within the institution will be reviewed.
Asiama’s takeover follows Dr. Ernest Addison’s decision to begin his terminal leave on February 3, 2025, ahead of his official retirement on March 28, 2025, in line with the Bank of Ghana Act, 2002 (Act 612), as amended.
