The Bank of Ghana has announced the appointment of Prof. Festus Ebo Turkson to its Monetary Policy Committee (MPC).

The appointment was announced in a statement on April 20, 2022.

The statement said the decision on Prof. Festus Ebo Turkson’s appointment was taken by the Board of the Directors of the Bank of Ghana.

“Bank of Ghana announces the appointment by its Board of Directors, of Professor Festus Ebo Turkson, as an external member of the Bank of Ghana Monetary Policy Committee (MPC), pursuant to section 27(3)(E) of the Bank of Ghana 2002 (Act 612) as amended by the Bank of Ghana (Amendment) Act, 2016 (Act 918),” the statement noted.

Professor Turkson, a regular voice on economic issues in Ghana’s media, is a Development Economist with specialization in macroeconomics and finance, monetary and financial economics, small and medium enterprises development, industrial policy, applied micro econometrics and international trade policy and finance.

He is an Associate Professor of Economics at the University of Ghana with an economics research, teaching and consultancy career spanning over 20 years.

He holds a PhD in Economics from the University of Nottingham and is a member of the Leverhulme Centre for Research on Globalization and Economic Policy of the School of Economics of the Nottingham University.

He is also a member of many years’ standing of the African Economic Research Consortium. Professor Turkson replaces Dr. John K. Kwakye who retired as an External Member of the MPC having served the statutory term limit. The Board of Directors of the Bank of Ghana extends warm appreciation to Dr. Kwakye for his contributions to monetary policy deliberations and formulation during his tenure.

The Bank of Ghana said it is confident that the addition of Prof. Turkson will ensure the committee benefits from his vast experience.

“The Board of Bank of Ghana is confident that Professor Turkson will be an important addition to the membership of the MPC and will contribute his vast experience to the work of the MPC.”

Read the full statement below: