Business

Ernest Addison carries “Adwuma Wura” title; maintained as BoG Boss

“Mo ne yo” goes to Dr Ernest Addison as his hard work has been duly recognized by President Akufo-Addo as he reappoints him as Governor of the Bank of Ghana for another four-year term.

Well, as has always been the case, his appointment is subject to confirmation by the Council of State.

Information gathered by asempanews business desk indicates that, Dr Addison’s second term will commence on March 30, 2021.

About Dr Ernest Addison

Dr. Ernest Addison was first appointed by President Akufo Addo in April 2017, following the resignation of  Dr. Abdul- Nashiru Issahaku. 

Until his appointment, Dr Addison was the Lead Regional Economist of the African Development Bank at its Southern African Resource Centre.

From 2003 to 2011, he served as the Director of Research at the Bank of Ghana; and was the Chief Economist of the West African Monetary Institute, from 2001 to 2002.

The Economics graduate of the University of Ghana, Legon, holds an M.Phil in Economics and Politics from the University of Cambridge, England, and PhD in Economics from McGill University, Canada

Dr. Addison’s first four-year term 

Remember the famous cleanup of the banking sector? Dr. Adison led that cause. He is credited with good reforms that have led to the stability of the banking sector, which include the-clean-up we mentioned earlier. 

He has also led several reforms that have improved payments in the country, improving credit extension by commercial banks to businesses in Ghana. 

Some analysts have argued that Dr. Addison’s real test will be how he insulates the Bank of Ghana from any political pressures in regulating the Banking sector and ensuring there is fiscal discipline because of its impact on inflation and the entire banking sector.

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