--°C
Business

“Ghana is Making Substantial Progress” - BoG Pledges Sustained Economic Policy Discipline

Bank of Ghana Governor Dr. Johnson Asiama has reaffirmed the central bank’s commitment to maintaining strict policy discipline, emphasizing that sustaining monetary rigor is essential to protecting market confidence and solidifying Ghana's ongoing economic progress.

Prince Agyapong
|
Thursday, 15 October 2026
Share:
“Ghana is Making Substantial Progress” - BoG Pledges Sustained Economic Policy Discipline

Bank of Ghana Governor Dr Johnson Asiama has told institutional investors, brokers and fund managers in Bangkok that Ghana's economic progress is real and the policy discipline behind it isn't going anywhere.

The meetings, held on the sidelines of the 2026 IMF/World Bank Annual Meetings, focused on the country's outlook and what it will take to make the current stability stick.

Dr Asiama pointed to inflation falling from 23.8 per cent at the end of 2024 to 5.2 per cent in September 2026, alongside a cumulative policy rate cut of 1,400 basis points that brought the rate down to 14 per cent.

"These gains provide a stronger foundation for investment, business planning and growth," he said, framing the numbers as evidence rather than promises.

Moody's decision on October 9 to upgrade Ghana's sovereign credit rating from Caa1 to B3, with a stable outlook, added weight to the message. The agency cited improved financing conditions, lower borrowing costs and fiscal discipline backed by institutional reforms.

What Investors Are Watching

Dr Asiama acknowledged that investor confidence hinges on consistency, not just headline figures.

He said the Bank's focus remains on rebuilding reserves and strengthening institutions, while keeping a close eye on external risks including dollar and gold price movements, financing conditions, and tensions in the Middle East ahead of the Monetary Policy Committee's November decision.

He closed by framing the task ahead as one of reinforcement rather than reinvention.

"Our responsibility is to reinforce Ghana's progress through credible policy and sustained action, creating the conditions for long-term investment and lasting economic opportunity," he said, leaving investors with a message built more on continuity than fresh promises.

READ ALSO: Oil Prices Fall as Hormuz Risks Meet Supply Relief

#IMF World Bank Meetings#Moody’s Ghana rating#Ghana inflation#Bank of Ghana#Bank of Ghana

Comments

0/2000

Loading comments...

More in Business