Economic stability is real but still young – Dr Johnson Asiama

The Governor of the Bank of Ghana (BoG), Dr. Johnson Asiama has said that Ghana’s recent signs of economic stability are genuine but cautioned that the gains remain young.

Speaking at the maiden Pan‑African Central Bank Governors’ Conference in Accra, Dr. Asiama said, even though the stability is real it is fully untested by global economic uncertainties.

He reassured participants that the economic stability is real, emphasising the need for continued discipline, transparent and credible policy implementation.

"Colleagues, as we stand at a reflection point, economic growth is returning in many of our countries. Beneath this growth across the continent lies our fragility",

"We still have to contend with high borrowing cost and fiscal strengths .In other words our stability is real but it is still being tested, “he said.

At the gathering, Dr Asiama urged his colleagues to view their mandate not only as policymakers but as “custodians of public trust,” highlighting that monetary institutions play a critical role in maintaining confidence in national economies.

He underlined the importance of coordination between monetary and fiscal authorities, robust reserve management, and response mechanisms to external shocks, in reinforcing the economy’s foundation.

The conference agenda included sessions on macroeconomic stability, exchange rate dynamics, inflation targeting, digital currencies, fintech innovation, and regional cooperation among African central banks.

The event served as a platform for sharing experiences and best practices, and for strengthening policy frameworks across the continent.

The conference, co‑hosted by the Bank of Ghana and the Bank of England, brought together central bank governors, deputies and senior officials from African central banks.

Source: James Eshun