Four individuals have been appointed as advisors to the Bank of Ghana (BoG) as part of efforts to strengthen the country’s monetary policy framework.

The appointees are Dr John Kwabena Kwakye, Director of Research at the Institute of Economic Affairs (IEA); Professor John Gatsi, Dean of the University of Cape Coast Business School; Dr Francis Kumah, a former International Monetary Fund (IMF) Resident Representative; and Franklin Belnye, a director at the BoG.

The Governor of the Central Bank, Dr Johnson Pandit Asiama, announced the appointments at the opening of the 124th meeting of the Monetary Policy Committee (MPC) in Accra today (May 21).

Dr Asiama stated that the four advisors would bring their extensive expertise and experience to bear as the Central Bank makes crucial monetary policy decisions aimed at stabilising the economy.

He noted, for instance, that Professor Gatsi would be expected to contribute innovations in the implementation of non-interest banking.

The ongoing MPC meeting is expected to examine, among other issues, the sustainability of the recent exchange rate appreciation, the resilience of renewed market confidence, and the implications of these developments for the inflation outlook over the medium term.