The President, Nana Addo Dank\u00adwa Akufo-Addo, has commend\u00aded the\u00a0Bank of Ghana\u00a0(BoG) for the role it has played in the last seven years to maintain economic stability and development of the country.<\/strong><\/p>\n\u201cIn the last seven years, the BoG has distinguished itself in discharging its duties to the admiration of all well-meaning Ghanaians. It has been a sound banker to the government and a safe custodian of the country\u2019s money,\u201d the President stated this during the 2023 end of year cock\u00adtail of the BoG.<\/p>\n
According to President Akufo-Addo, BoG had also been an efficient currency manager, a reliable source of liquidity and a dependable lender of last resort.<\/p>\n
\u201cWhen COVID-19 struck with its dire consequences for the country, the BoG, with the support of the commercial banks, instituted the GH\u00a23 billion credit and stimulus package to help revitalise industries, especially the pharmaceutical, hospitality and manufacturing sectors and we have all seen the effects of this intervention, evidenced by the growth of the economy,\u201d he stressed.<\/p>\n
He said the government intro\u00adduced corrective measures to ad\u00address the imbalances in the econ\u00adomy following the COVID-19 pandemic and with support from the BoG macro-economic stability was being restored.<\/p>\n
President Akufo-Addo indicat\u00aded that there was clear evidence that inflation was being contained, saying \u201cFrom 54 per cent in December 2022 to 26.4 per cent in November 2023. We are also witnessing sustained stability of the exchange rate.\u201d<\/p>\n
He said the recent policy measures introduced by the BoG were commendable and in line with efforts in moving Ghana to a situation beyond aid.<\/p>\n
President Akufo-Addo said he had taken keen interest in the bank\u2019s role in the digitisation of the economy and the architecture of our payment system had been transformed completely and finan\u00adcial inclusion had been deepened to ensure shared growth for all Ghanaians.<\/p>\n
\u201cAll these make the BoG an institution of excellence, reflecting the recent international recog\u00adnitions of the central bank. The BoG has won the central bank of the year awards two times with the governor, Dr Ernest Addison on one occasion being adjudged the central bank governor of the year,\u201d he stated.<\/p>\n
Source:\u00a0<\/strong>thebftonline.com<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
The President, Nana Addo Dank\u00adwa Akufo-Addo, has commend\u00aded the\u00a0Bank of Ghana\u00a0(BoG) for the role it has played in the last seven years to maintain economic stability and development of the country. \u201cIn the last seven years, the BoG has distinguished itself in discharging its duties to the admiration of all well-meaning Ghanaians. It has been […]<\/p>\n","protected":false},"author":1,"featured_media":132500,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-133372","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"\n
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