April 1, 2023

Source:Citi Newsroom

Source: Citi newsroom

The Central Bank of Ghana’s position in fiscal and monetary policies has to be clarified, according to Franklin Cudjoe, the founding president and chief executive officer of IMANI Center for Policy and Education.

Speaking on The Big Issue on Citi TV, he asserted that the Central Bank’s view that it solely oversees the monetary component of the economy and not the fiscal aspect is actually not clear.

He made the point that the most recent Monetary Policy Committee meeting, which took place on Wednesday, August 17, 2022, demonstrated how the Central Bank eventually comes to the table to help solve the issue.

“I believe that the predicament we are in requires some type of

That has largely been the case. But they are not responsible for the financial choices that inevitably produced the issues that the Central Bank must address.

“To the point where everyone was urging the administration to address the people, especially the President. The tidbits that we typically get from the Finance Ministry weren’t all that inspiring.

“It was crucial that the Central Bank offered some monetary concessions and actually provided a situational report, both of which they have done. However, is this a financial matter over which they have no control but are merely advising? he questioned.

The Monetary Policy Rate been increased by 300 basis points at the Bank of Ghana.

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