The Governor of the Bank of Ghana, Dr Ernest Addison, has been named as the Central Bank Governor of the Year for Sub-Saharan Africa.
The GlobalMarkets, a paper published digitally to cover the current year’s Virtual IMF/World Bank Annual Meeting 2020 gave Dr Addison the award in acknowledgment of his extraordinary administration.
As per GlobalMarkets, the honor was also in acknowledgment of the Governor’s marvelous execution in dealing with the Covid pandemic, which has seen BoG introduce a pile of measures pointed toward supporting the government’s groundbreaking plan and guaranteeing the wellbeing and adequacy of Ghana’s financial sector.
The statement Additionally stated that, the Central bank has drawn recognition for its astute treatment of the Covid emergency. It further expresses that BoG had the option to quicken its financial approach loosening so as to help the economy.
In this time of pandemic, the Central Bank of Ghana introduced a vital approach by cutting its key interest and policy rate to 14.5%. The Bank additionally eased moneylenders’ reserve requirements, making it simpler for banks to give liquidity to areas hit by the infection.
These as indicated by GlobalMarkets, was excellent, as they have helped keep the Ghanaian economy above water.
Every one of these moves taken by the Bank have been generally welcomed by global financial investors, consequently these investors has vowed to help Ghana’s economy to recuperate once the most exceedingly terrible of the emergency has lessened.
Meanwhile, the Bank has Additionally been lauded for other measures, including the clean up exercises, recapitalisation and the correction of guidelines for players, that the coordinators said assisted with supporting trust in the financial sector.
The measures according to GlobalMarkets was striking, opportune and significant in hardening the area to fund development.
The GlobalMarkets awards recognizes the achievements of the world’s top policymakers.
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