ghananlpcommunity/ghana-gov-speeches-sentences huggingface dataset:
In 2025, the cedi ended the year significantly stronger, reflecting improved fundamentals, disciplined policy, and growing confidence in the framework.
This was not a victory for the central bank alone.
It was a shared national gain.
And just as instability hurts everyone, stability benefits everyone.
This is why protecting the cedi is not the task of one institution.
It is a collective responsibility, of policymakers, businesses, households, and yes, the media.
Your coverage during the Cedi@60 campaign demonstrated this power.
By reinforcing responsible currency handling and national ownership of the cedi, your reporting helped turn policy into public action.
Understanding Central Bank Losses Similarly, when central bank losses are reported, context is essential.
Central banks across the world can incur losses while taking decisive actions to stabilise their economies during periods of crisis.
These outcomes reflect policy choices made in the public interest, not financial recklessness.
When this distinction is not clearly explained, public trust can be eroded.
Yet trust is the very foundation upon which monetary policy rests.
The thrust of policy must not be lost; inflation fell sharply, reserves were rebuilt, and the cedi strengthened.
These are the results that ultimately matter to citizens.
Closing Ladies and Gentlemen, Every headline matters.
Every story sends a signal.
Every analysis shapes expectations.
The question is not whether the media should report on the Bank of Ghana.
Does the story illuminate or inflame?
Does it build understanding or amplify fear?
Does it strengthen confidence, or unintentionally weaken it?
We deeply respect media freedom.
But we also recognise that with freedom comes responsibility.
Across the world, economies have been stabilised or destabilised by how economic information is communicated.
Let us choose the path that builds trust, supports stability, and advances Ghana’s collective progress.
Thank you for your attention, and I wish you all a pleasant afternoon.
GOVERNOR’S NEW YEAR MEDIA ENGAGEMENT REMARKS BY DR.
JOHNSON PANDIT ASIAMA GOVERNOR, BANK OF GHANA THE BANK SQUARE, ACCRA 16 JANUARY 2026 1 Distinguished members of the media, Colleagues from the Bank of Ghana, Ladies and Gentlemen, Good afternoon, and let me begin by wishing you a Happy New Year.
This annual engagement with the media has become an important tradition for the Bank of Ghana.
It offers an opportunity not only to reflect on the year just ended, but also to situate our work within the broader national conversation.
As this is my first New Year Media Engagement as Governor, I value the opportunity to speak with you directly and to set the tone for how we will continue to engage going forward.
The year 2025 was not an easy one.
It required difficult judgments, careful sequencing of policy actions, and sustained discipline across institutions.
It was a year of adjustment – for the economy, for markets, and for households.
Through it all, the media played an essential role in helping Ghanaians understand what was happening, why difficult choices were being made, and what those choices were intended to achieve.
For that role, I thank you.
The Role of the Media in a Period of Adjustment Ladies and Gentlemen, A free, independent, and responsible media is a cornerstone of democratic governance.
In the context of central banking, your role is particularly important.
Monetary and financial policy decisions are complex, their effects are often indirect, and their benefits are rarely immediate.
The way these decisions are explained, contextualised, and reported can influence expectations, confidence, and behaviour across the economy.
Scrutiny is not only legitimate; it is necessary.
Constructive questioning strengthens institutions and improves public understanding.
At the same time, we all recognise that economic information carries weight.
In periods of adjustment, incomplete or poor ly contextualised reporting can unintentionally heighten uncertainty or undermine confidence, with real consequences for households and businesses.
2 Our expectation, therefore, is not compliance but responsibility – accuracy, balance, and context.
That balance is essential to financial stability and to public trust.
How We Think About Policy at the Bank of Ghana Let me take a moment to explain how we approach policy , not in terms of technical instruments, but in terms of principles.
First, our decisions are data -driven and forward -looking.
We do not respond to pressure, speculation, or sentiment.
We respond to evidence, risks, and the medium -term outlook for price and financial stability.
Second, we prioritise stability over speed.
In rebuilding credibility and restoring order, quick fixes are rarely durable.
Our focus has been on policies that can be sustained, even when they are uncomfortable in the short term.
Third, we operate as an institution, not as individuals.
Central banking is collective, disciplined work.
Decisions are taken through established frameworks, informed by analysis, debate, and professional judgment.
These principles guided our actions in 2025 and will continue to guide us in the year ahead.
What 2025 Represented For the Bank of Ghana, 2025 was a year of restoration , restoring macroeconomic stability, rebuilding confidence in policy, and re -establishing order across key segments of the financial system.
At the macroeconomic level, the Bank’s foremost priority was anchoring inflation expectations and restoring stability.
Through disciplined monetary tightening, effective liquidity management, and clear policy communication, inflation declined steadily from 23.8 percent in December 2024 to 5.4 percent by the end of December 2025, with underlying price pressures easing over the course of the year.
These outcomes reflected consistency in policy execution and a deliberate focus on restoring credibility to the monetary policy framework.
3 In the banking sector, we made solid progress in strengthening resilience and supervisory effectiveness.
Regulatory reforms were advanced to improve risk identification and mitigation, including enhanced stress testing, stronger recovery planning requirements, and refinements to the risk-based supervisory framework.
Engagement with regulated institutions and collaboration with fellow regulators were also strengthened, reinforcing the foundations of a more stable and disciplined banking system.
Progress was also made in capital market development , particularly in advancing discussions around bank listings.
Working with market regulators and stakeholders, the Bank supported efforts to encourage greater use of public markets as a means of strengthening governance, transparency, and market discipline within the financial sector.
In the foreign exchange market, 2025 marked an important shift toward greater transparency and order.
The Bank implemented a rules-based FX auction framework, strengthened market oversight, introduced improved reporting mechanisms, and enforced compliance to curb market abuse.
These measures contributed to improved price discovery, reduced distortions, and a gradual restoration of confidence in the FX market.
The Bank’s gold programmes also played a strategic role during the year.
Through the Domestic Gold Purchase Programme, external buffers were strengthened, FX pressures were moderated, and confidence in Ghana’s external position improved.
As a result, gross international reserves rose to over US$13.8 billion, equivalent to approximately 5.7 months of import cover.
While t hese programmes involved costs, they delivered tangible stability benefits and should be understood as strategic interventions undertaken in support of macroeconomic and external resilience.
On the legislative front , significant institutional reforms were secured.
Parliament passed the Bank of Ghana Amendments Bill, 2025, strengthening central bank independence, enhancing accountability, and reinforcing safeguards around central bank financing of government.
These reforms represent an important step in aligning Ghana’s central banking framework with international best practice.
In payments and digital finance , notable progress was recorded in strengthening infrastructure and system resilience.
Through GHIPSS, payment systems were modernised, instant payment capabilities expanded, and interoperability across platforms improved.
The passage of the Virtual 4 Asset Services Bill also marked an important milestone, laying the foundation for a regulated and orderly approach to emerging digital asset activities.
Taken together , these efforts helped restore macroeconomic stability, improve coordination between monetary and fiscal authorities, and place the economy on a firmer footing.
These gains were hard-won and achieved through discipline, restraint, and institutional effort.
They carry with them a responsibility, to protect stability, to act with humility, and to remain faithful to the public trust placed in the Bank of Ghana.
The Direction of Travel in 2026 With stability restored, 2026 is about consolidation and discipline.
The Bank’s focus this year is to embed the reforms of the past period into routine practice and ensure that stability translates into durable confidence, effective intermediation, and predictable markets.
Monetary policy will remain measured and forward -looking, anchored on price stability and supported by clear signalling and consistent liquidity management.
The objective is not to surprise markets, but to reinforce credibility through continuity.
In the financial sector, supervisory attention will shift further toward prevention rather than cure.
Greater emphasis will be placed on governance quality, capital and liquidity planning, and early risk identification, ensuring that vulnerabilities are addressed before they threaten stability.
In financial markets, the priority is consolidation.
Recent reforms will be deepened to support orderly price discovery, disciplined market conduct, and improved confidence across the foreign exchange and money markets.
In payments and digital finance, attention will focus on resilience and safeguards as usage continues to expand.
Oversight will be strengthened to ensure consumer protection, sound governance, and system reliability, while innovation proceeds within clear regulatory boundaries.
Finally, 2026 will mark a transition in how national strategic initiatives are anchored.
Programmes introduced during the period of adjustment, including those related to gold, will move toward more 5 sustainable institutional and fiscal arrangements, ensuring shared responsibility and long -term viability.
Across all areas, the emphasis this year is quality over quantity – strong institutions, disciplined markets, and policies that endure.
The Social Responsibility of Central Banking Ladies and Gentlemen, It is important to remember that behind every policy decision are real people – households managing rising costs, businesses navigating uncertainty, and workers concerned about jobs and incomes.
Trade-offs are unavoidable, and no decision is taken lightly.
Our responsibility is to act in the long -term public interest, even when the short -term choices are difficult.
Trust in a central bank is built not by promises, but by consistency, transparency, and integrity over time.
Strengthening our Partnership as we Look Ahead Dear friends, as we look toward 2026 and beyond, we are committed to deepening our collaboration with you.
We will expand our media training programmes and introduce a dedicated forum for Editors, Producers, Presenters, and the many behind -the-scenes professionals whose work shapes the news and content we consume, even though they may not appear on the visible or audible stages alongside our regular press corps.
In addition, we will launch an internal recognition initiative – the Governor’s Economic and Financial Story of the Year – to encourage accurate and insightful reporting on economic matters and Bank of Ghana stories throughout 2026.
This initiative aims to inspire creativity and innovation in storytelling across both print and digital platforms.
I encourage all of you to take up this challenge and may the best media house emerge victorious!
The winning journalist will be sponsored to attend the IMF/World Bank meetings.
Through its Communications Department, the Bank will continue to engage proactively on all media-related matters, ensuring that our friends in the press feel welcomed, supported, and confident whenever called upon to help us share our messages with the public.
6 As we gather today, let us enjoy this occasion and create lasting memories together.
I sincerely thank you for your partnership with the Bank over the past year, your steadfast dedication, and, above all, your service to our great Republic.
I eagerly look forward to building even stronger bonds with you in 2026 and beyond.
COURTESY VISIT BY HIS MAJESTY OTUMFUO OSEI TUTU II ASANTEHENE THEME: STABILITY, DISCIPLINE, AND SUSTAINABLE PROSPERITY: REFLECTIONS ON LEADERSHIP, THE CEDI, AND GHANA’S ECONOMIC PATH REMARKS BY DR.
JOHNSON PANDIT ASIAMA GOVERNOR, BANK OF GHANA BANK SQUARE, ACCRA | JANUARY 7, 2026 1 Your Majesty, Otumfuo Osei Tutu II, Asantehene, Nanahemaa and Nananom, Honoured elders and members of your delegation, Distinguished members of our Board, Management and staff of the Bank of Ghana, Ladies and gentlemen.
It is a great honour, on behalf of the Board, Management, and staff of the Bank of Ghana, to warmly welcome Your Majesty to the Central Bank.
Otumfuo, Ghana has long benefited from your brand of leadership, quiet, steady, and deeply anchored in wisdom.
In moments of national tension, you have reminded us that authority is not exercised through noise or force, but through balance, restraint, and moral clarity.
That instinct for stability has made your voice relevant not only in matters of chieftaincy and social cohesion, but also in the broader national conversation about development, discipline, and progress.
I recall very clearly the last time the Board and Management of the Bank of Ghana paid homage to Your Majesty at Manhyia.
On that occasion, you asked a question that was both simple and profound.
You observed that the cedi was appreciating against the US d ollar, and you asked whether that appreciation was sustainable.
It was a legitimate question, one that went beyond the exchange rate itself to the deeper issue of credibility.
It was a question many Ghanaians were asking quietly in their homes, shops, and offices: is this improvement real, and will it last?
I am pleased to say that, since then, the underlying foundations of the economy have strengthened in important ways.
Inflation, which stood at 23.8 percent in December 2024, has fallen sharply.
By October 2025 it declined to 8.0 percent, and by November 2025 to 6.3 percent .
For December, it declined further to 5.4 percent, reflecting broad-based disinflation across both food and non-food items.
Certainly, these have not happened by accident.
It is the result of sustained monetary discipline, improved food supply conditions, and closer coordination across key policy institutions (Bank of Ghana and the Ministry of Finance).
As inflation pressures eased and expectations began to re-anchor, the Bank of Ghana was able to recalibrate its policy stance carefully.
The Monetary Policy Rate was reduced in steps from 27.0 percent to 18.0 percent by November 2025, striking a balance be tween preserving hard- won disinflation gains and supporting a recovery in credit and economic activity.
Market rates have followed this trend, easing financial conditions while maintaining prudence.
On the external front, buffers have also been rebuilt.
Gross international reserves have risen to about US$13.83 billion by end-December 2025, providing close to six months of import cover.
Trade performance has improved, and confidence in macroeconomic ma nagement has strengthened.
2 Against this backdrop, Your Majesty, the question you posed about the cedi deserves a clear answer.
We are happy to report that the cedi ended the year in a much stronger position than many would have anticipated a year earlier.
According to Forbes, a year-end level of about GH¢10.67 per US dollar placed the cedi among the stronger -performing currencies on the African continent.
This outcome reflects not only improved sentiment, but also better fundamentals, stronger reserves, reduced inflation, and restored policy credibility.
However, Otumfuo, we remain careful not to confuse improvement with permanence.
Exchange rate stability is not something that can be declared; it must be earned continuously.
A currency remains strong only when the real economy beneath it is productive, co mpetitive, and disciplined.
That is why we see the cedi’s performance not as a victory lap, but as a responsibility.
Sustainability, as Your Majesty rightly implied in your question, rests on deeper choices: fiscal restraint instead of excess, production over consumption, exports over imports, and long-term thinking over short -term comfort.
These are not technical matter s alone; they are matters of national values and conduct.
In this respect, Otumfuo, your public counsel over the years has been remarkably consistent.
You have repeatedly urged leaders to reduce waste, protect public resources, and focus on development that creates real opportunity for ordinary people.
You have spoken about the need to empower Ghanaian enterprise, support education, and build an economy that produces, not merely trades.
These messages align closely with what economic history teaches us: that prosperity follows discipline, and stability follows credibility.
Your visit today is therefore not merely symbolic.
It is timely.
Ghana’s recovery must now move beyond better statistics to better livelihoods.
It must translate into jobs for the youth, stronger local industry, affordable credit that does not reignite inflation, and a financial system that supports enterprise and long -term investment.
The Bank of Ghana is fully committed to playing its role, firmly, independently, and professionally, so that the gains we are beginning to see become durable and inclusive.
Otumfuo, we are grateful for your presence, your counsel, and your lifelong commitment to peace, unity, and national progress.
Your leadership reminds us that stability, whether social or economic, is built patiently, protected deliberately, and sustained through collective responsibility.
Akwaaba, Otumfuo.
Meda wo ase.
Maiden Diaspora Economic Growth Summit Welcome Remarks by Dr.
Johnson Pandit Asiama Governor, Bank of Ghana Bank Square, Accra | January 6, 2026 Your Excellency, the British High Commissioner to Ghana, Distinguished guests from the United Kingdom and Ghana, Members of the British Ghanaian Diaspora, Colleagues from Government, the private sector, and development institutions, Ladies and gentlemen, On behalf of the Bank of Ghana, I am pleased to welcome you to the London to Accra: Diaspora Economic Growth Summit .
We are honoured to partner with the British High Commission in Accra on this important initiative, which reflects our shared commitment to strengthening economic cooperation between Ghana and the United Kingdom through meaningful diaspora engagement.
The London to Accra campaign captures a powerful idea: that the deep social and cultural ties between London and Accra can be translated into sustained economic value.
Since its official launch in July 2025 with the Mayor of London, Sir Sadiq Khan, the campaign has consistently highlighted the diaspora as a strategic bridge – connecting ideas, markets, and capital across both cities.
The agenda for this event aligns directly with the Bank of Ghana’s mandate to preserve financial stability while supporting sustainable economic growth.
In a challenging global environment marked by external shocks and tighter financial conditions, stable foreign exchange inflows, resilient financial markets, and diversified sources of long -term capital are critical to macroeconomic stability.
Today’s summit will create an opportunity to deepen structured dialogue between the diaspora and policy makers with the view to unlocking transformative opportunities for sustainable growth and development.
Diaspora inflows must be harnessed beyond consumption and deliberately channelled into sustainable investment that drives long -term growth.
These flows have played a vital role in supporting household consumption, strengthening our balance of payments, and enhancing macroeconomic stability.
However, b eyond consumption, remittances hold even greater potential as a driver of productive investment.
When strategically channelled, they can finance small and medium-sized enterprises, expand housing, modernise agriculture and, in doing so, create sustainable employment for young people through knowledge and skills transfer programmes at the national and local levels.
Remittances constitute a structurally important and countercyclical source of foreign exchange for Ghana, with the Ghanaian diaspora in the United Kingdom representing a major remittance corridor.
During the period January –September 2025, remittance inflow s from the UK accounted for 17.5 percent of total remittance receipts.
This proportion marks a decline compared to the corresponding period in 2024, when the UK corridor contributed 27.6 percent, equivalent to more than one quarter of total inflows.
The Ba nk of Ghana posits that there is considerable scope to scale up remittance inflows from the UK through the implementation of well-targeted policy measures and incentive-based frameworks.
At the Bank of Ghana, we continue to strengthen payment systems and regulatory frameworks to ensure these flows remain efficient, transparent, and supportive of FX market stability.
The next phase of our policy focus, and a central theme of this summit is to complement remittance inflows with structured, investment -oriented instruments.
This includes exploring opportunities such as diaspora bonds, collective investment schemes, and other capital market products that allow diaspora savings to be mobilised into productive sectors of the economy, while offering transparent, well-regulated returns to investors.
Capital market deepening is therefore a key priority.
Well-functioning domestic debt and equity markets reduce reliance on short-term flows, improve price discovery, and enhance resilience to external shocks.
The diaspora, with its familiarity with interna tional financial markets and strong ties to Ghana, is uniquely positioned to support this agenda – bringing patient capital, credibility, and confidence to Ghana’s financial system.
In parallel, the Bank of Ghana continues to advance foreign exchange market reforms aimed at improving liquidity, transparency, and price formation.
A more robust foreign exchange market supports trade, encourages investment, and strengthens confidence among both domestic and international investors.
Diaspora participation , through formal channels and investment vehicles, can play an important role in reinforcing these reforms and broadening the base of stable foreign exchange inflows.
As the regulator of banks, payment systems, and foreign exchange markets, the Bank of Ghana is well positioned to convene these conversations – bringing together policymakers, financial institutions, and diaspora investors to move from dialogue to implementation.
Today’s summit provides an important platform to explore practical mechanisms that link diaspora capital to investment opportunities, strengthen FX inflows, and support long-term financial stability.
Over the course of this year, we will be rolling out many targeted interventions.
This will include the development of the National Remittance Strategy in close collaboration with the Ministry of Finance, as well as a Remittance Roadshow to advance inclusive, continent -wide engagement with our Diasporans.
In a rapidly changing global economic landscape, the role of the diaspora as a stabilising and catalytic force has never been more important.
A stronger London –Accra connection enables the British Ghanaian diaspora to translate ideas, innovation, and capital into shared prosperity, reinforcing economic resilience in both Ghana and the United Kingdom.