The Chief Executive Officer (CEO) of Dalex Finance, Joe Jackson, has wished the new Governor of the Bank of Ghana (BoG) well in his quest to put things in the right perspective to strengthen the economy.
He has prayed for a successful policy initiative implementation amid the challenges ahead, sharing how the financial spectrum and businesses will flourish, should the Governor’s vision become a reality.
According to him, the Bank of Ghana has sabotaged its own mandate over the years by its own deeds, doing things that will benefit the government of the day rather than putting in place measures that would position the economy at a better place.
Speaking on Ghana Tonight on TV3 Tuesday, February 25, 2025, the Dalex CEO said if governors of the central banks had concentrated on their core duties as required by the constitution, rather than satisfying the whims and caprices of the government of the day, the nation’s finances would have fared better to reflect on the performance of the economy.
He commended the governor’s decision to stable the currency, control inflation and involve relevant stakeholders to help build the economy to help businesses.
“His remit is to manage the finance of government to achieve its own policy goals. The governor is to make sure the cedi is stable, prices don’t go up, in collaboration with the Ministry of Finance. So therefore when the [BoG] governor comes and he says he wants to review the FX regime, we must say well done Sir.”
He added that, if the governor “says he wants to maintain stability of prices and target and makes sure inflation is kept under control, we say well done again. That’s what you’re supposed to do.”
He asserted that the numerous inflation the nation has recorded times past have largely been due to the BoG’s failure to insist on its mandate as required by the constitution.
“In fact some of us may even feel that the elephant in the room every time we talk about inflation is the central bank itself who in times past, has funded deficits of the government to such levels as we say it is sabotaging its very mandate that has been given to it by the constitution.
“So, if this new central [bank] governor comes with a renewed zeal, vigour, wanting to do its work the right way, we say well done, welcome and we wish you the very best and we salute you and we hope that the energy, zeal, commitment that you have indicated to us today will remain in spite of the challenges ahead,” he stated.
Content by : Felix Anim-Appau
