Economy

BOG governor retires with head high

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Stakeholders in the country’s financial sector as well as the Association of Ghana Industries have given thumps up to the immediate past governor of the Bank of Ghana Paul Acquah bowed out on Wednesday after serving eight years with Ghana’s Central Bank, receiving wide applause for his high-level fiscal discipline. He was adjudged the best central bank governor in Africa for his role in maintaining a stable and resilient economy. He is also credited with key reforms during an eight-year tenure which culminated in the creation of an interest rate policy committee and the redenomination of the cedi. President of the Association of Ghana Industries, Tony Oteng Adjei, in an interview with Joy News intimated the former governor can “retire with his head high.” Even though he criticized Dr. Acquah’s models in fighting inflation, he said on the balance the governor did a good job. He also lauded the smooth transition between the outgoing governor and the incoming one, Dr Paa Kwesi Ammissah-Arthur, describing it as one of the smoothest in recent times. Managing Director of Stanbic Bank, Alhassan Andani said Ghana must tap into the knowledge of the retiring governor. He said Dr. Acquah brought “monumental changes” within the country’s financial sector, adding Ghana must still take advantage of the huge reservoir of knowledge. He said the services of Dr. Acquah will be required worldwide and expressed the hope that Ghana will be the beneficiary. Story by Nathan Gadugah/ Myjoyonline.com/Ghana

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DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.