{"id":202577,"date":"2016-03-29T15:36:39","date_gmt":"2016-03-29T15:36:39","guid":{"rendered":"http:\/\/4cd.e16.myftpupload.com\/?p=202577"},"modified":"2016-03-29T15:36:39","modified_gmt":"2016-03-29T15:36:39","slug":"bog-governor-step-thursday","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2016\/03\/bog-governor-step-thursday\/","title":{"rendered":"BoG Governor to step down on Thursday"},"content":{"rendered":"
Bank of Ghana Governor, Henry Kofi Wampah will retire this week according to Reuters.<\/p>\n
[contextly_sidebar id=”oQ7Ahfe6MtwE40S63jdw7d12LPcxsVWA”]Wampah, whose term officially ends on August 5, told Reuters he had informed President John Mahama of his intention to leave by the end of this month, adding the decision was partly linked to presidential and parliamentary elections planned for November.<\/p>\n
“I told him I wanted to leave office early and we have agreed that I will exit at the end of March,” Wampah said. “It is just fair to leave early in order to give enough room for my successor, whoever it might be, to settle down before we get to the elections.”<\/p>\n
He said one of his two deputies, either Millison Narh or Abdul Nashiru Issahaku, was expected to serve as interim central bank governor until Mahama chooses a permanent successor.<\/p>\n
Once considered a rising star in Africa, Ghana, which exports cocoa, gold and oil, has been dogged by large budget deficits, ballooning public debt and inflation that consistently tops government targets.<\/p>\n
Mahama appointed Wampah amid serious fiscal imbalances caused mainly by election spending in 2012 and a burdensome public sector wage bill that complicated the bank’s task of managing the money supply.<\/p>\n
Wampah responded with a string of monetary policy reforms, including tighter foreign exchange liquidity management to slow inflation.<\/p>\n