ACCRA, March 30 Ghana's government will name a
new central bank governor in the next few weeks after the
previous governor stepped down for personal reasons, the finance
ministry said in a statement on Thursday.
The ministry said first deputy governor Millison Narh would
run the central bank in the interim, in an apparent move to
reduce uncertainty as the new government seeks to stabilize the
Sources close to the presidency said Akufo-Addo would name
senior monetary policy expert Ernest Addison in the wake of the
resignation of Nashiru Issahaku.
Addison, who holds a doctorate in economics and politics,
worked at the African Development Bank as a senior economist and
also helped design the Bank of Ghana's monetary policy.
President Nana Akufo-Addo's government came to power in
January and is set to review with the International Monetary
Fund the terms of a $918 million financial aid deal aimed at
reducing inflation, the public debt and the fiscal deficit.
Those fiscal problems and a decline in global prices for
Ghana's exports of gold and oil have led to a sharp slowdown in
growth in a country that until 2014 had been one of Africa's
"We want to assure all stakeholders that with our commitment
to macroeconomic stability the new Governor will build
significantly on the success of Dr. Issahaku," the finance
Under Issahaku, the bank cut the benchmark interest rate by
50 basis points in January to 25.5 percent and by a further 200
basis points on Monday in what economists say is the start of an
easing cycle as inflation falls.
(Writing by Matthew Mpoke Bigg; Editing by Hugh Lawson)