The Governor of the Bank of Ghana (BoG), Dr. Ernest Addison has stated that the central bank is using monetary policy tools to support the rapid economic recovery of the Ghanaian economy.

According to him, despite the challenges faced, Ghana remains a vibrant country, which provides an indication of positive prospects should the macroeconomic indicators improve.

Dr.  Addison, who is an alumnus of McGill University, made the statements when a delegation made up of professors, students and alumni from McGill University, Canada, paid a courtesy call on Management of the Bank of Ghana.

Providing an overview of Ghana’s current economic situation, Dr. Addison said Ghana will soon come out of the current economic challenges which have been partly contributed by recent global economic instability. 

The Governor further added that although the Bank had encountered challenges with maintaining price stability due to the persistent shocks, an improvement was expected this year.

The team interacted with Management on wide-ranging issues on Ghana and the sub-region. 

In the introductory remarks, Professor Karl Moore, leader of the delegation expressed gratitude to the Management of the Bank for the remarkable reception and indicated that the visit to Ghana was part of the 12th edition of the ‘Hot Cities of the World’ Tour organised by the University for its students.

According to Prof. Moore, the chosen theme for the year was “Taking the future to the future” and since Ghana was part of the future, a visit to the Bank of Ghana was imperative, and aims to provide the students an opportunity to better understand and appreciate the operations of the Bank, as well as connect with alumni of the university.

In the Governor’s team were the First and Second Deputy Governors, Dr. Maxwell Opoku-Afari and Mrs Elsie Addo Awadzi, the Director of Financial Markets, Mr Stephen Opata and other officials of the Bank.

Staff of the Bank later made presentations on Monetary Policy Formulation in Ghana, Financial Market Operations, Use of Big Data Analytics in the Bank, and Management of the Ghana Petroleum Funds to the students.