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BoG Governor Ernest Addison speaks to Graphic Business
Jul 8, 2020
Dr Ernest Addison,Governor of the Bank of Ghana
As part of Graphic Talks 360, a Graphic Business webinar series, the Governor of Bank of Ghana, Dr Ernest Addison discussed the Mid-year review of the banking sector.
The webinar series which was moderated by the Graphic Business Editor, Mr Theophilus Yartey, sought to find answers to some of the banking sector’s policies amid the COVID-19 pandemic. These are excerpts of the interview with Dr Addison.
What is your appraisal of the size and impact of COVID-19 shock on the Ghanaian economy?
Theo Yartey:
In Ghana, we have made some poor economic decisions in the past. The Ghanaian economy was really very bad, it was almost stagnated. The initial economic indicators that we have looked at for the first quarter of the year came in relatively strongly. We do have some strong points and relatively weak points. When you look at private sector contribution to social security, you also get the sense of impact on employment in Ghana. We are projecting that we will see GDP growth decline from an original estimation of over seven  per cent to two per cent, a significant revision for the outlook on growth.
Dr Ernest Addison:
As a central banker, how do you feel being in charge of monetary policy implementation now and how is the feeling like?
Theo Yartey:
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