BoG Urges Responsible Economic Reporting as Ghana Shifts From Stabilisation to Reset

 

Ghana is entering a critical phase of economic recovery that demands discipline, institutional credibility and responsible public communication, according to a statement delivered on behalf of the Governor of the Bank of Ghana, Dr. Johnson Pandit Asiama, by Dr. Francis Yao Kumah, Advisor to the Governor.

The address was read at a media training workshop organised by the Private Newspapers and Online News Publishers’ Association of Ghana (PRINPAG), where the central bank outlined the role of the media in consolidating recent macroeconomic gains and anchoring public confidence.

The statement noted that while Ghana made significant progress in 2025 marked by easing inflation, improved foreign exchange stability and stronger external buffers these gains represent a foundation rather than an endpoint.

“Stability is not the destination; it is the launchpad,” the Governor said in the address, describing 2026 as a year for consolidation, credibility and policy discipline rather than experimentation.

Inflation declined sharply to 5.4 percent in December 2025 from 23.8 percent a year earlier, while gross international reserves rose to over US$13.9 billion, equivalent to nearly six months of import cover. The improvements were attributed to tighter monetary policy, enhanced FX market management, banking sector reforms and growing adoption of digital payment systems.

However, the statement cautioned that sustaining these gains would require a broader national reset of expectations, institutions and behaviour particularly within the information ecosystem.

Media as a Pillar of Economic Confidence

The address emphasised that economic reporting plays a decisive role in shaping expectations, warning that misinterpretation or sensational reporting of data such as inflation, interest rates and exchange rate movements could amplify uncertainty and undermine confidence.

“Economic information carries weight,” the statement said. “The way it is communicated influences decisions, expectations and trust in the economy.”

The Governor urged journalists to prioritise context, accuracy and balance, especially at a time when policy adjustments may involve short-term costs in pursuit of long-term stability.

Policy Focus for 2026

Looking ahead, the address outlined key policy priorities for the Bank of Ghana, including deepening reforms in the foreign exchange and money markets to improve transparency and price discovery; strengthening banking supervision through a more preventive, risk-based approach; supporting digital financial innovation within clear regulatory guardrails; and maintaining predictable, evidence-based policy communication.

The statement reaffirmed the central bank’s commitment to policy consistency as a cornerstone of credibility.

Strengthening Engagement With the Media

To support informed economic reporting, the Bank of Ghana said it would intensify engagement with the media through targeted training on monetary policy, FX operations and financial stability issues.

Planned initiatives include regular Editors’ and Producers’ Forums ahead of major policy announcements and data releases, as well as the introduction of an annual Economic and Financial Story of the Year award, with the winner sponsored to attend the IMF–World Bank Meetings.

“When the media succeeds, the public understands. And when the public understands, the economy functions better,” the statement noted.

A Shared Responsibility

The address concluded by stressing that Ghana’s economic reset is a shared responsibility involving disciplined policymaking, orderly markets and informed public participation.

Addressing journalists, the Governor said they stand “at the intersection of policy and public understanding,” with a critical role in anchoring expectations as the country transitions from crisis management to consolidation.